The latest trading session saw Veeva Systems (VEEV) ending at $222.72, denoting a -0.42% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 0.17% for the day. Meanwhile, the Dow lost 0.39%, and the Nasdaq, a tech-heavy index, lost 0.05%.
Heading into today, shares of the provider of cloud-based software services for the life sciences industry had lost 5.61% over the past month, outpacing the Medical sector's loss of 6.9% and lagging the S&P 500's loss of 3.94% in that time.
The investment community will be closely monitoring the performance of Veeva Systems in its forthcoming earnings report. The company's upcoming EPS is projected at $1.74, signifying a 16% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $727.99 million, up 11.94% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $7.31 per share and revenue of $3.05 billion, indicating changes of +10.76% and +11.03%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Veeva Systems should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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 5.5% higher. Veeva Systems presently features a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Veeva Systems currently has a Forward P/E ratio of 30.6. This indicates a premium in contrast to its industry's Forward P/E of 24.21.
Meanwhile, VEEV's PEG ratio is currently 1.15. 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 2.9 as trading concluded yesterday.
The Medical Info Systems industry is part of the Medical sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Veeva Systems Inc. (VEEV) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.