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Veeva Systems (VEEV) closed at $191.02 in the latest trading session, marking a +1.72% move from the prior day. The stock outpaced the S&P 500’s daily gain of 0.92%. Elsewhere, the Dow gained 0.1%, while the tech-heavy Nasdaq added 1.08%.
Coming into today, shares of the provider of cloud-based software services for the life sciences industry had gained 20.42% in the past month. In that same time, the Computer and Technology sector gained 6.38%, while the S&P 500 gained 9.6%.
Investors will be hoping for strength from Veeva Systems as it approaches its next earnings release, which is expected to be December 1, 2022. The company is expected to report EPS of $1.07, up 10.31% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $545.78 million, up 14.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.16 per share and revenue of $2.14 billion, which would represent changes of +11.53% and +15.77%, respectively, from the prior year.
Any recent changes to analyst estimates for Veeva Systems should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.04% lower. Veeva Systems is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Veeva Systems has a Forward P/E ratio of 45.15 right now. This represents a discount compared to its industry’s average Forward P/E of 45.19.
It is also worth noting that VEEV currently has a PEG ratio of 2.73. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. VEEV’s industry had an average PEG ratio of 2.25 as of yesterday’s close.
The Internet – Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 65, putting it in the top 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow VEEV in the coming trading sessions, be sure to utilize Zacks.com.
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Veeva Systems Inc. (VEEV): Free Stock Analysis Report
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