Veeva Systems (VEEV) closed at $233.29 in the latest trading session, marking a +0.01% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.28%, and the tech-heavy Nasdaq lost 1.2%.

Coming into today, shares of the provider of cloud-based software services for the life sciences industry had gained 9.5% in the past month. In that same time, the Medical sector gained 8.26%, while the S&P 500 gained 2.71%.

The investment community will be paying close attention to the earnings performance of Veeva Systems in its upcoming release. On that day, Veeva Systems is projected to report earnings of $1.58 per share, which would represent year-over-year growth of 14.49%. Meanwhile, our latest consensus estimate is calling for revenue of $698.28 million, up 10.73% from the prior-year quarter.

It is also important to note the recent changes to analyst estimates for Veeva Systems. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.07% lower. Veeva Systems presently features a Zacks Rank of #3 (Hold).

Investors should also note Veeva Systems's current valuation metrics, including its Forward P/E ratio of 36.15. This signifies no noticeable deviation in comparison to the average Forward P/E of 36.15 for its industry.

Investors should also note that VEEV has a PEG ratio of 1.38 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical Info Systems stocks are, on average, holding a PEG ratio of 3.5 based on yesterday's closing prices.

The Medical Info Systems industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 58, finds itself in the top 24% echelons 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.

To follow VEEV in the coming trading sessions, be sure to utilize Zacks.com.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Veeva Systems Inc. (VEEV) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research