Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Veeva Systems (VEEV) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Veeva Systems is one of 659 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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).
The Zacks Consensus Estimate for VEEV's full-year earnings has moved 7.53% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, VEEV has gained about 54.76% so far this year. At the same time, Computer and Technology stocks have lost an average of 3.88%. As we can see, Veeva Systems is performing better than its sector in the calendar year.
Breaking things down more, VEEV is a member of the Internet - Software industry, which includes 89 individual companies and currently sits at #32 in the Zacks Industry Rank. On average, this group has lost an average of 1.22% 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.