Analysts Anticipate Verisign, Inc. (NASDAQ:VRSN) Will Post Quarterly Sales of $306.45 Million

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Analysts expect Verisign, Inc. (NASDAQ:VRSN) to post sales of $306.45 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Verisign’s earnings. The lowest sales estimate is $305.76 million and the highest is $307.14 million. Verisign reported sales of $302.45 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.3%. The firm is scheduled to announce its next quarterly earnings results on Thursday, July 25th.

On average, analysts expect that Verisign will report full year sales of $1.23 billion for the current year. For the next financial year, analysts forecast that the firm will report sales of $1.29 billion, with estimates ranging from $1.29 billion to $1.30 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Verisign.

Verisign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $306.41 million for the quarter, compared to analyst estimates of $302.63 million. Verisign had a negative return on equity of 43.07% and a net margin of 49.98%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 earnings per share.

A number of research firms recently commented on VRSN. Zacks Investment Research raised Verisign from a “hold” rating to a “buy” rating and set a $224.00 price objective on the stock in a research note on Tuesday, April 30th. BidaskClub raised Verisign from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. Finally, Citigroup reaffirmed a “neutral” rating and set a $195.00 price objective (up previously from $175.00) on shares of Verisign in a research note on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $180.80.

Shares of VRSN traded up $1.84 during trading hours on Wednesday, reaching $207.77. 7,966 shares of the company traded hands, compared to its average volume of 498,029. The firm has a market cap of $24.23 billion, a P/E ratio of 43.80 and a beta of 1.04. Verisign has a fifty-two week low of $131.28 and a fifty-two week high of $210.06.

In related news, Director Timothy Tomlinson sold 378 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $199.55, for a total transaction of $75,429.90. Following the sale, the director now owns 34,094 shares of the company’s stock, valued at $6,803,457.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Vanguard Group Inc boosted its position in shares of Verisign by 4.5% in the third quarter. Vanguard Group Inc now owns 11,368,270 shares of the information services provider’s stock worth $1,820,286,000 after purchasing an additional 485,685 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Verisign by 9.1% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 1,578 shares of the information services provider’s stock worth $234,000 after purchasing an additional 132 shares during the period. TD Asset Management Inc. boosted its position in shares of Verisign by 5.6% in the fourth quarter. TD Asset Management Inc. now owns 75,874 shares of the information services provider’s stock worth $11,251,000 after purchasing an additional 4,019 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Verisign by 11.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 1,450 shares of the information services provider’s stock worth $215,000 after purchasing an additional 151 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Verisign by 41,120.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,763,452 shares of the information services provider’s stock worth $25,000 after purchasing an additional 3,754,322 shares during the period. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

About Verisign

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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