Veeva Systems (VEEV) closed the most recent trading day at $184.08, moving +0.17% from the previous trading session. This move lagged the S&P 500's daily gain of 0.48%. At the same time, the Dow added 0.59%, and the tech-heavy Nasdaq lost 0.15%.
Heading into today, shares of the provider of cloud-based software services for the life sciences industry had gained 17.6% over the past month, outpacing the Computer and Technology sector's gain of 6.82% and the S&P 500's gain of 7.49% in that time.
Wall Street will be looking for positivity from Veeva Systems as it approaches its next earnings report date. This is expected to be December 1, 2022. In that report, analysts expect Veeva Systems to post earnings of $1.07 per share. This would mark year-over-year growth of 10.31%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $545.78 million, up 14.63% from the year-ago period.
VEEV's full-year Zacks Consensus Estimates are calling for earnings of $4.16 per share and revenue of $2.14 billion. These results would represent year-over-year changes of +11.53% and +15.77%, respectively.
Investors might also notice recent changes to analyst estimates for Veeva Systems. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.04% lower. Veeva Systems currently has a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Veeva Systems has a Forward P/E ratio of 44.19 right now. This represents a no noticeable deviation compared to its industry's average Forward P/E of 44.19.
Meanwhile, VEEV's PEG ratio is currently 2.67. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 2.4 based on yesterday's closing prices.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 64, putting it in the top 26% 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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