Veeva Systems (VEEV) ended the recent trading session at $209.98, demonstrating a -3.67% change from the preceding day's closing price. This change lagged the S&P 500's 0.13% loss on the day. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq lost 0.72%.
The provider of cloud-based software services for the life sciences industry's shares have seen a decrease of 2.35% over the last month, surpassing the Medical sector's loss of 2.41% and falling behind the S&P 500's gain of 0.78%.
Market participants will be closely following the financial results of Veeva Systems in its upcoming release. The company is expected to report EPS of $1.92, up 10.34% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $808.89 million, showing a 12.21% escalation compared to the year-ago quarter.
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.
It is also important to note the recent changes to analyst estimates for Veeva Systems. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Veeva Systems currently has a Zacks Rank of #2 (Buy).
Investors should also note Veeva Systems's current valuation metrics, including its Forward P/E ratio of 27.5. This denotes a premium relative to the industry average Forward P/E of 27.28.
One should further note that VEEV currently holds a PEG ratio of 1.16. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical Info Systems industry had an average PEG ratio of 2.25 as trading concluded yesterday.
The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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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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