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Is Veeva Systems (VEEV) Stock Outpacing Its Computer and Technology Peers This Year?

Zacks Equity Research

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Veeva Systems (VEEV) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 630 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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 #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for VEEV's full-year earnings has moved 1.30% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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According to our latest data, VEEV has moved about 66.11% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 25.70%. This means that Veeva Systems is outperforming the sector as a whole this year.

Looking more specifically, VEEV belongs to the Internet - Software industry, which includes 91 individual stocks and currently sits at #74 in the Zacks Industry Rank. On average, this group has gained an average of 14.66% so far this year, meaning that VEEV is performing better in terms of year-to-date returns.

VEEV will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.


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Zacks Investment Research