Is Veeva Systems (VEEV) Outperforming Other Computer and Technology Stocks This Year?
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 one of 606 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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).
Over the past three months, the Zacks Consensus Estimate for VEEV's full-year earnings has moved 2.67% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, VEEV has moved about 78.45% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 14.52% on average. This shows that Veeva Systems is outperforming its peers so far this year.
To break things down more, VEEV belongs to the Internet - Software industry, a group that includes 91 individual companies and currently sits at #106 in the Zacks Industry Rank. This group has gained an average of 51.33% so far this year, so VEEV is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on VEEV as it attempts to continue its solid performance.
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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.