Is Veeva Systems (VEEV) Outperforming Other Computer and Technology Stocks This Year?

Investors focused on the Computer and Technology space have likely heard of Veeva Systems (VEEV), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of VEEV and the rest of the Computer and Technology group's stocks.

Veeva Systems is one of 625 companies in the Computer and Technology group. The Computer and Technology group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. VEEV is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for VEEV's full-year earnings has moved 7.53% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that VEEV has returned about 93.42% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 12.34% on average. This shows that Veeva Systems is outperforming its peers so far this year.

Looking more specifically, VEEV belongs to the Internet - Software industry, which includes 70 individual stocks and currently sits at #85 in the Zacks Industry Rank. On average, this group has gained an average of 30.88% so far this year, meaning that VEEV is performing better in terms of year-to-date returns.

Investors in the Computer and Technology sector will want to keep a close eye on VEEV as it attempts to continue its solid performance.

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
 
To read this article on Zacks.com click here.