In the latest market close, Veeva Systems (VEEV) reached $176.40, with a -1.29% movement compared to the previous day. This change trailed the S&P 500’s 0.2% loss on the day. Elsewhere, the Dow saw a 0.18% drop, while the tech-heavy Nasdaq fell 0.59%.
Entering today, shares of the provider of cloud-based software services for the life sciences industry have lost 8.41% in the past month. In that same time, the Computer and Technology sector gained 10.56%, while the S&P 500 gained 7.87%.
The investment community will be closely monitoring Veeva Systems’ performance in its next earnings report. The company is scheduled to release its earnings on December 6, 2023. On that day, Veeva Systems is projected to report earnings of $1.28 per share, which would represent year-over-year growth of 13.27%. Meanwhile, our latest consensus estimate calls for revenue of $615.92 million, up 11.51% from the previous quarter.
For the full year, the Zacks Consensus Estimates forecast earnings of $4.67 per share and revenue of $2.36 billion, indicating changes of +9.11% and +9.49%, respectively, compared to the previous year.
Investors should also pay attention to some of the latest changes in analyst ratings for Veeva Systems. These audits help show the ever-changing nature of near-term business trends. Therefore, upward revisions in ratings express analysts’ positivity toward the company’s business operations and its ability to generate profits.
Research indicates that these rating revisions directly correlate with near-term stock price momentum. To use this, we created the Zacks Rank, a proprietary model that integrates these rating changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, unverified track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection moved 0.49% lower. Veeva Systems is currently a Zacks Rank #3 (Hold).
From a valuation perspective, Veeva Systems currently trades hands with a Forward P/E ratio of 38.24. This represents a premium compared to the average Forward P/E of 35.92 for its industry.
Meanwhile, VEEV’s PEG ratio is currently 1.55. The PEG ratio is similar to the widely used P/E ratio, but this metric also takes into account the company’s expected earnings growth. Internet – Software stocks, on average, hold a PEG ratio of 1.61 based on yesterday’s closing prices.
The Internet – Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 43, which places it in the top 18% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our particular industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, at Zacks.com.
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Veeva Systems Inc. (VEEV): Free Analysis Report
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