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Results from 'Magnificent Seven' duo show cloud revenue boosted by strong AI demand

Has Veeva Systems (VEEV) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research
Updated
RLI Corp. (RLI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

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 a member of our Computer and Technology group, which includes 594 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. 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 signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Based on the latest available data, VEEV has gained about 69.14% so far this year. In comparison, Computer and Technology companies have returned an average of 4.09%. This means that Veeva Systems is performing better than its sector in terms of year-to-date returns.

To break things down more, VEEV belongs to the Internet - Software industry, a group that includes 75 individual companies and currently sits at #51 in the Zacks Industry Rank. This group has gained an average of 8.04% so far this year, so VEEV is performing better in this area.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to VEEV as it looks to continue its solid performance.


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Veeva Systems Inc. (VEEV) : Free Stock Analysis Report
 
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