VeriSign (NASDAQ:VRSN) Issues Earnings Results

VeriSign (NASDAQ:VRSN) issued its quarterly earnings data on Thursday. The information services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.06, Briefing.com reports. VeriSign had a negative return on equity of 46.56% and a net margin of 54.74%. The business had revenue of $384.30 million for the quarter, compared to analysts’ expectations of $381.85 million. During the same period in the prior year, the firm earned $1.70 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. VeriSign updated its FY 2024 guidance to EPS.

VeriSign Trading Down 3.9 %

Shares of NASDAQ VRSN traded down $7.20 during midday trading on Friday, hitting $175.48. The company’s stock had a trading volume of 1,931,522 shares, compared to its average volume of 607,025. VeriSign has a 12-month low of $174.51 and a 12-month high of $229.72. The firm has a market cap of $17.57 billion, a P/E ratio of 22.71 and a beta of 0.88. The business’s 50 day moving average is $189.66 and its two-hundred day moving average is $200.25.

Insider Activity at VeriSign

In other VeriSign news, EVP Thomas C. Indelicarto sold 613 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $195.33, for a total value of $119,737.29. Following the sale, the executive vice president now owns 43,143 shares in the company, valued at $8,427,122.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Thomas C. Indelicarto sold 614 shares of the stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $190.00, for a total value of $116,660.00. Following the transaction, the executive vice president now owns 41,955 shares of the company’s stock, valued at $7,971,450. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas C. Indelicarto sold 613 shares of VeriSign stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $195.33, for a total value of $119,737.29. Following the sale, the executive vice president now directly owns 43,143 shares of the company’s stock, valued at $8,427,122.19. The disclosure for this sale can be found here. Insiders sold a total of 14,877 shares of company stock worth $2,878,864 in the last quarter. 0.94% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on VRSN shares. Robert W. Baird decreased their price target on shares of VeriSign from $215.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday. StockNews.com downgraded VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, Citigroup lowered their price target on VeriSign from $237.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd.

VeriSign Company Profile

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.