In its upcoming report, Veeva Systems (VEEV) is predicted by Wall Street analysts to post quarterly earnings of $1.95 per share, reflecting an increase of 11.4% compared to the same period last year. Revenues are forecasted to be $791.88 million, representing a year-over-year increase of 13.3%.
The current level reflects a downward revision of 0.1% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Bearing this in mind, let's now explore the average estimates of specific Veeva metrics that are commonly monitored and projected by Wall Street analysts.
It is projected by analysts that the 'Revenues- Subscription services' will reach $671.02 million. The estimate indicates a year-over-year change of +15.5%.
The consensus among analysts is that 'Revenues- Professional services and other' will reach $120.86 million. The estimate indicates a year-over-year change of +2.1%.
Analysts forecast 'Revenues- Professional services and other- Veeva R&D Solutions' to reach $74.66 million. The estimate points to a change of +3% from the year-ago quarter.
The combined assessment of analysts suggests that 'Revenues- Subscription services- Veeva R&D Solutions' will likely reach $361.28 million. The estimate points to a change of +19.4% from the year-ago quarter.
Analysts predict that the 'Revenues- Subscription services- Veeva Commercial Solutions' will reach $309.72 million. The estimate indicates a change of +11.3% from the prior-year quarter.
The consensus estimate for 'Revenues- Professional services and other- Veeva Commercial Solutions' stands at $46.26 million. The estimate indicates a year-over-year change of +0.9%.
Based on the collective assessment of analysts, 'Non-GAAP Gross Margin- Professional Services and other' should arrive at 31.8%. Compared to the current estimate, the company reported 33.5% in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Non-GAAP Gross Margin- Subscription services' of 85.9%. Compared to the present estimate, the company reported 86.2% in the same quarter last year.
View all Key Company Metrics for Veeva here>>>
Shares of Veeva have demonstrated returns of +3.4% over the past month compared to the Zacks S&P 500 composite's +1.5% change. With a Zacks Rank #2 (Buy), VEEV is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Veeva Systems Inc. (VEEV): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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