Veeva Systems (VEEV) ended the recent trading session at $225.28, demonstrating a +2.53% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.55% for the day. Elsewhere, the Dow gained 0.63%, while the tech-heavy Nasdaq added 0.91%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had lost 1.53% lagged the Medical sector's gain of 0.19% and the S&P 500's gain of 0.71%.
Analysts and investors alike will be keeping a close eye on the performance of Veeva Systems in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.92, reflecting a 10.34% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $808.89 million, indicating a 12.21% increase compared to the same quarter of the previous year.
VEEV's full-year Zacks Consensus Estimates are calling for earnings of $7.93 per share and revenue of $3.16 billion. These results would represent year-over-year changes of +20.15% and +15.13%, respectively.
Investors should also note any recent changes to analyst estimates for Veeva Systems. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Veeva Systems possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Veeva Systems is presently being traded at a Forward P/E ratio of 27.72. For comparison, its industry has an average Forward P/E of 27.72, which means Veeva Systems is trading at no noticeable deviation to the group.
One should further note that VEEV currently holds a PEG ratio of 1.17. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. VEEV's industry had an average PEG ratio of 2.32 as of yesterday's close.
The Medical Info Systems industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 157, finds itself in the bottom 36% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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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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