Veeva Systems (VEEV) closed at $209.24 in the latest trading session, marking a -0.34% move from the prior day. This move lagged the S&P 500’s daily gain of 0.25%. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq gained 0.23%.
The the stock of provider of cloud-based software services for the life sciences industry has risen by 5.48% in the past month, lagging the Computer and Technology sector’s gain of 11.73% and the S&P 500’s gain of 7.08%.
Market participants will be closely following the financial results of Veeva Systems in its upcoming release. The company plans to announce 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. Our most recent consensus estimate is calling for quarterly revenue of $641.73 million, up 21.92% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.14 per share and revenue of $2.73 billion, indicating changes of +26.86% and +15.6%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Veeva Systems. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.07% downward. Veeva Systems is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Veeva Systems is holding a Forward P/E ratio of 34.19. This expresses a premium compared to the average Forward P/E of 29.75 of its industry.
We can also see that VEEV currently has a PEG ratio of 1.42. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. As of the close of trade yesterday, the Internet – Software industry held an average PEG ratio of 1.73.
The Internet – Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 56, placing it within the top 23% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
