VeriSign (VRSN) to Release Earnings on Thursday

VeriSign (NASDAQ:VRSN) will be posting its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect VeriSign to post earnings of $1.84 per share for the quarter. VeriSign has set its FY 2024 guidance at EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, February 8th. The information services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.09. The business had revenue of $380.40 million for the quarter, compared to analysts’ expectations of $381.01 million. VeriSign had a net margin of 54.74% and a negative return on equity of 46.56%. On average, analysts expect VeriSign to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

VeriSign Stock Performance

Shares of VRSN opened at $181.57 on Thursday. The stock has a market capitalization of $18.18 billion, a PE ratio of 22.93 and a beta of 0.88. VeriSign has a 1 year low of $181.57 and a 1 year high of $229.72. The company’s 50-day simple moving average is $191.22 and its 200-day simple moving average is $201.06.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. StockNews.com lowered shares of VeriSign from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd.

Insider Buying and Selling

In related news, EVP Thomas C. Indelicarto sold 614 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $190.00, for a total transaction of $116,660.00. Following the sale, the executive vice president now directly owns 41,955 shares in the company, valued at $7,971,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Thomas C. Indelicarto sold 614 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $190.00, for a total transaction of $116,660.00. Following the sale, the executive vice president now directly owns 41,955 shares in the company, valued at $7,971,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Todd B. Strubbe sold 9,423 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $193.21, for a total transaction of $1,820,617.83. Following the completion of the transaction, the chief operating officer now owns 111,551 shares in the company, valued at $21,552,768.71. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,877 shares of company stock worth $2,878,864. Company insiders own 0.94% of the company’s stock.

Hedge Funds Weigh In On VeriSign

Several hedge funds have recently added to or reduced their stakes in VRSN. Resurgent Financial Advisors LLC purchased a new position in VeriSign in the fourth quarter valued at approximately $25,000. Eagle Bay Advisors LLC increased its holdings in shares of VeriSign by 2,628.6% in the 2nd quarter. Eagle Bay Advisors LLC now owns 191 shares of the information services provider’s stock valued at $32,000 after acquiring an additional 184 shares during the period. Altshuler Shaham Ltd acquired a new position in shares of VeriSign in the 4th quarter valued at $36,000. Clear Street Markets LLC increased its holdings in shares of VeriSign by 94.6% in the 1st quarter. Clear Street Markets LLC now owns 181 shares of the information services provider’s stock valued at $38,000 after acquiring an additional 88 shares during the period. Finally, West Tower Group LLC acquired a new position in shares of VeriSign in the 4th quarter valued at $47,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

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.