Is Veeva Systems (VEEV) Outperforming Other Computer and Technology Stocks This Year? – December 3, 2020

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Veeva Systems (VEEV Free Report) 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 616 different companies and currently sits at #7 in 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the 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 1.10% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.

Based on the most recent data, VEEV has returned 93.66% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 36.72% on a year-to-date basis. This means that Veeva Systems is performing better than its sector in terms of year-to-date returns.

Looking more specifically, VEEV belongs to the Internet – Software industry, which includes 97 individual stocks and currently sits at #185 in the Zacks Industry Rank. On average, stocks in this group have gained 96% this year, meaning that VEEV is slightly underperforming its industry in terms of year-to-date returns.

VEEV will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.