In the latest trading session, Veeva Systems (VEEV) closed at $89.65, marking a -0.96% move from the previous day. This change lagged the S&P 500's 0.76% loss on the day. At the same time, the Dow lost 0.82%, and the tech-heavy Nasdaq lost 0.9%.
Coming into today, shares of the provider of cloud-based software services for the life sciences industry had lost 5.02% in the past month. In that same time, the Computer and Technology sector lost 4.92%, while the S&P 500 lost 1.41%.
Wall Street will be looking for positivity from VEEV as it approaches its next earnings report date. This is expected to be November 28, 2018. On that day, VEEV is projected to report earnings of $0.38 per share, which would represent year-over-year growth of 52%. Meanwhile, our latest consensus estimate is calling for revenue of $216.19 million, up 22.73% from the prior-year quarter.
VEEV's full-year Zacks Consensus Estimates are calling for earnings of $1.48 per share and revenue of $843.19 million. These results would represent year-over-year changes of +59.14% and +22.99%, respectively.
It is also important to note the recent changes to analyst estimates for VEEV. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. VEEV is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, VEEV is holding a Forward P/E ratio of 61.16. This represents a premium compared to its industry's average Forward P/E of 54.05.
We can also see that VEEV currently has a PEG ratio of 3.17. 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. VEEV's industry had an average PEG ratio of 3.19 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.