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Veeva Systems (VEEV) closed the latest trading day at $214.74, indicating a +0.5% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.23%. At the same time, the Dow lost 0.91%, and the tech-heavy Nasdaq gained 0.1%.
Prior to today's trading, shares of the provider of cloud-based software services for the life sciences industry had lost 13.42% over the past month. This has lagged the Medical sector's loss of 10.2% and the S&P 500's loss of 12.13% in that time.
The upcoming earnings release of Veeva Systems will be of great interest to investors. On that day, Veeva Systems is projected to report earnings of $1.74 per share, which would represent year-over-year growth of 16%. Our most recent consensus estimate is calling for quarterly revenue of $727.99 million, up 11.94% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $7.31 per share and a revenue of $3.05 billion, signifying shifts of +10.76% and +11.03%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Veeva Systems. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 10.33% increase. At present, Veeva Systems boasts a Zacks Rank of #1 (Strong Buy).
Investors should also note Veeva Systems's current valuation metrics, including its Forward P/E ratio of 29.21. This indicates a premium in contrast to its industry's Forward P/E of 23.82.
We can additionally observe that VEEV currently boasts a PEG ratio of 1.1. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Medical Info Systems industry had an average PEG ratio of 2.7.