Equities research analysts forecast that VeriSign, Inc. (NASDAQ:VRSN) will post $291.59 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for VeriSign’s earnings. The highest sales estimate is $291.69 million and the lowest is $291.49 million. VeriSign posted sales of $287.55 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.4%. The company is scheduled to issue its next quarterly earnings results on Thursday, October 26th.
On average, analysts expect that VeriSign will report full-year sales of $291.59 million for the current year. For the next year, analysts expect that the company will post sales of $1.20 billion per share, with estimates ranging from $1.20 billion to $1.21 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow VeriSign.
VeriSign (NASDAQ:VRSN) last released its earnings results on Thursday, July 27th. The information services provider reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.06. VeriSign had a net margin of 39.92% and a negative return on equity of 36.99%. The business had revenue of $289 million during the quarter, compared to analyst estimates of $287.47 million. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year.
VRSN has been the subject of several research reports. Zacks Investment Research raised VeriSign from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research note on Tuesday, May 30th. BidaskClub raised VeriSign from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Citigroup Inc. raised VeriSign from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 12th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $94.00 price target on shares of VeriSign in a research note on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $87.75.
Shares of VeriSign (VRSN) opened at 99.77 on Thursday. The stock’s 50 day moving average is $97.21 and its 200-day moving average is $89.59. VeriSign has a 12-month low of $74.01 and a 12-month high of $103.79. The stock has a market cap of $9.97 billion, a price-to-earnings ratio of 27.19 and a beta of 1.20.
In related news, Director Timothy Tomlinson sold 1,240 shares of VeriSign stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $101.00, for a total transaction of $125,240.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.92% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. boosted its stake in VeriSign by 40.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 47,517 shares of the information services provider’s stock worth $4,417,000 after buying an additional 13,703 shares in the last quarter. Banque Pictet & Cie SA boosted its stake in VeriSign by 2.8% in the second quarter. Banque Pictet & Cie SA now owns 73,219 shares of the information services provider’s stock worth $6,806,000 after buying an additional 1,995 shares in the last quarter. Pictet & Cie Europe SA boosted its stake in VeriSign by 30.4% in the second quarter. Pictet & Cie Europe SA now owns 10,764 shares of the information services provider’s stock worth $1,001,000 after buying an additional 2,509 shares in the last quarter. Cipher Capital LP bought a new stake in VeriSign during the second quarter worth approximately $2,989,000. Finally, Hikari Power Ltd bought a new stake in VeriSign during the second quarter worth approximately $207,000.
VeriSign Company Profile
VeriSign, Inc is a provider of domain name registry services and Internet security. The Company operates through Registry Services and Security Services segment. Registry Services ensure the security, stability and resiliency of Internet infrastructure and services, including the .com and .net domains, and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS).
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