The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Veeva Systems (VEEV) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Veeva Systems is a member of our Computer and Technology group, which includes 655 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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 #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for VEEV's full-year earnings has moved 8.66% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, VEEV has returned 46.51% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 9.37% on average. As we can see, Veeva Systems is performing better than its sector in the calendar year.
Looking more specifically, VEEV belongs to the Internet - Software industry, which includes 89 individual stocks and currently sits at #27 in the Zacks Industry Rank. Stocks in this group have lost about 3.62% so far this year, so VEEV is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to VEEV as it looks to continue its solid performance.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.