VeriSign, Inc. (NASDAQ:VRSN) Issues Earnings Results
VeriSign, Inc. (NASDAQ:VRSN) released its earnings results on Thursday. The information services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06, Bloomberg Earnings reports. VeriSign had a net margin of 39.13% and a negative return on equity of 36.75%. The company had revenue of $289 million for the quarter, compared to analysts’ expectations of $287.47 million. During the same quarter last year, the business earned $0.91 EPS. The firm’s revenue was up .9% compared to the same quarter last year.
VeriSign (NASDAQ:VRSN) traded up 0.13% on Thursday, reaching $101.95. 877,958 shares of the company’s stock traded hands. VeriSign has a 52 week low of $74.01 and a 52 week high of $102.73. The firm has a 50-day moving average price of $95.24 and a 200-day moving average price of $88.34. The stock has a market capitalization of $10.35 billion, a price-to-earnings ratio of 28.80 and a beta of 1.18.
Several research firms have recently issued reports on VRSN. Zacks Investment Research upgraded shares of VeriSign from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Tuesday, May 2nd. Cowen and Company lifted their price objective on shares of VeriSign from $89.00 to $94.00 and gave the company a “market perform” rating in a research report on Monday, April 3rd. Citigroup Inc. upgraded shares of VeriSign from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 12th. Finally, BidaskClub upgraded shares of VeriSign from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. VeriSign presently has a consensus rating of “Hold” and an average price target of $87.80.
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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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