Yahoo Finance Veeva Systems (VEEV) Stock Dips While Market Gains: Key Facts
Veeva Systems (VEEV) closed the most recent trading day at $203.89, moving -0.34% from the previous trading session. This change lagged the S&P 500's 0.7% gain on the day. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 1.1%.
Shares of the provider of cloud-based software services for the life sciences industry have appreciated by 2.76% over the course of the past month, underperforming the Computer and Technology sector's gain of 8.26% and the S&P 500's gain of 4.03%.
The investment community will be paying close attention to the earnings performance of Veeva Systems in its upcoming release. The company is slated to reveal its earnings on May 30, 2024. The company's earnings per share (EPS) are projected to be $1.43, reflecting a 57.14% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $641.73 million, reflecting a 21.92% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.14 per share and a revenue of $2.73 billion, representing changes of +26.86% and +15.6%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Veeva Systems. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.09% lower. Veeva Systems is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Veeva Systems is presently trading at a Forward P/E ratio of 33.31. This valuation marks a premium compared to its industry's average Forward P/E of 28.88.
It's also important to note that VEEV currently trades at a PEG ratio of 1.31. 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. The Internet - Software industry had an average PEG ratio of 1.72 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 58, which puts it in the top 24% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Veeva Systems Inc. (VEEV) : Free Stock Analysis Report