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VeriSign (NASDAQ:VRSN) was downgraded by equities researchers at Citigroup Inc. from a “neutral” rating to a “sell” rating in a research report issued on Friday, TheFlyOnTheWall.com reports.

VRSN has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of VeriSign in a research note to investors on Friday, December 20th. They now have a $61.00 price target on the stock. Separately, analysts at Thomson Reuters/Verus upgraded shares of VeriSign from a “hold” rating to a “buy” rating in a research note to investors on Monday, December 2nd. Finally, analysts at Thomson Reuters/Verus downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a research note to investors on Monday, November 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $52.44.

Shares of VeriSign (NASDAQ:VRSN) opened at 52.68 on Friday. VeriSign has a 1-year low of $43.28 and a 1-year high of $62.96. The stock has a 50-day moving average of $59.61 and a 200-day moving average of $53.8. The company has a market cap of $7.220 billion and a price-to-earnings ratio of 24.49. VeriSign also was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 22,714,378 shares, a decrease of 8.5% from the December 31st total of 24,641,765 shares. Currently, 16.8% of the shares of the company are sold short. Based on an average daily volume of 1,501,995 shares, the days-to-cover ratio is presently 15.1 days.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.37. The company had revenue of $246.00 million for the quarter, compared to the consensus estimate of $244.77 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts expect that VeriSign will post $2.62 EPS for the current fiscal year.

VeriSign, Inc (NASDAQ:VRSN) is a provider of Internet infrastructure services.

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