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Veeva Systems (VEEV) Outpaces Stock Market Gains: What You Should Know

In the latest trading session, Veeva Systems (VEEV) closed at $322.99, marking a +0.42% move from the previous day.

This story originally appeared on Zacks

Veeva Systems (VEEV) closed at $322.99 in the latest trading session, marking a +0.42% move from the prior day. This change outpaced the S&P 500's 0.18% gain on the day.

- Zacks

Coming into today, shares of the provider of cloud-based software services for the life sciences industry had gained 9.06% in the past month. In that same time, the Computer and Technology sector lost 1.76%, while the S&P 500 gained 2.96%.

Wall Street will be looking for positivity from VEEV as it approaches its next earnings report date. On that day, VEEV is projected to report earnings of $0.88 per share, which would represent year-over-year growth of 12.82%. Meanwhile, our latest consensus estimate is calling for revenue of $465.31 million, up 23.25% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $3.57 per share and revenue of $1.83 billion, which would represent changes of +21.43% and +25.19%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for VEEV. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.07% higher. VEEV is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, VEEV currently has a Forward P/E ratio of 90.01. This represents a premium compared to its industry's average Forward P/E of 71.78.

Investors should also note that VEEV has a PEG ratio of 4.95 right now. 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 currently had an average PEG ratio of 4.77 as of yesterday's close.

The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 30% 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.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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