Equities analysts expect Verisign, Inc. (NASDAQ:VRSN) to post sales of $302.44 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Verisign’s earnings, with the lowest sales estimate coming in at $301.26 million and the highest estimate coming in at $303.63 million. Verisign reported sales of $299.29 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.1%. The firm is scheduled to report its next earnings report after the market closes on Thursday, April 25th.
On average, analysts expect that Verisign will report full year sales of $1.23 billion for the current year. For the next year, analysts expect that the company will post sales of $1.28 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Verisign.
Verisign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $306.41 million for the quarter, compared to analysts’ expectations of $302.63 million. Verisign had a negative return on equity of 42.50% and a net margin of 47.94%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 EPS.
A number of equities research analysts recently weighed in on VRSN shares. ValuEngine upgraded Verisign from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 12th. Zacks Investment Research upgraded Verisign from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a report on Saturday, February 9th. BidaskClub upgraded Verisign from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Finally, Citigroup restated a “neutral” rating and issued a $195.00 price target (up previously from $175.00) on shares of Verisign in a report on Tuesday, March 5th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the stock. Verisign has a consensus rating of “Buy” and a consensus target price of $175.00.
VRSN opened at $189.18 on Friday. The company has a market capitalization of $22.60 billion, a P/E ratio of 39.83 and a beta of 1.07. Verisign has a 1-year low of $116.15 and a 1-year high of $191.20.
In related news, Director Timothy Tomlinson sold 580 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $175.12, for a total value of $101,569.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.35% of the company’s stock.
A number of large investors have recently made changes to their positions in VRSN. Oregon Public Employees Retirement Fund grew its holdings in Verisign by 41,120.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,763,452 shares of the information services provider’s stock valued at $25,000 after buying an additional 3,754,322 shares during the last quarter. Athena Capital Advisors LLC acquired a new stake in Verisign during the 4th quarter valued at $39,000. Bessemer Group Inc. grew its holdings in Verisign by 43.5% during the 4th quarter. Bessemer Group Inc. now owns 277 shares of the information services provider’s stock valued at $41,000 after buying an additional 84 shares during the last quarter. Signet Investment Advisory Group Inc. acquired a new stake in Verisign during the 4th quarter valued at $44,000. Finally, Sage Capital Advisors llc acquired a new stake in Verisign during the 4th quarter valued at $62,000. Hedge funds and other institutional investors own 94.28% of the company’s stock.
VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.
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