Is Veeva Systems (VEEV) Stock Outpacing Its Computer and Technology Peers This Year?
Investors focused on the Computer and Technology space have likely heard of Veeva Systems (VEEV), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Veeva Systems is one of 629 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 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the 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 0.10% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, VEEV has gained about 71.65% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 30.38% on a year-to-date basis. This means that Veeva Systems is performing better than its sector in terms of year-to-date returns.
To break things down more, VEEV belongs to the Internet - Software industry, a group that includes 91 individual companies and currently sits at #101 in the Zacks Industry Rank. Stocks in this group have gained about 23.74% 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.
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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.