A number of other equities analysts also recently weighed in on the stock. Cowen and Company reaffirmed a market perform rating and set a $80.00 target price on shares of VeriSign in a research note on Tuesday, September 6th. JPMorgan Chase & Co. raised their target price on shares of VeriSign from $84.00 to $88.00 and gave the company an underweight rating in a research note on Friday, July 29th. Finally, Zacks Investment Research downgraded shares of VeriSign from a buy rating to a hold rating in a research note on Wednesday, June 29th.
VeriSign (NASDAQ:VRSN) opened at 79.42 on Friday. VeriSign has a 52 week low of $70.21 and a 52 week high of $93.94. The company has a market cap of $8.48 billion, a price-to-earnings ratio of 25.30 and a beta of 1.26. The stock has a 50 day moving average price of $77.14 and a 200 day moving average price of $83.82.
VeriSign (NASDAQ:VRSN) last announced its earnings results on Thursday, July 28th. The company reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.05. VeriSign had a net margin of 37.47% and a negative return on equity of 37.96%. The business earned $286 million during the quarter, compared to the consensus estimate of $284.34 million. During the same quarter last year, the firm earned $0.74 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts forecast that VeriSign will post $3.49 earnings per share for the current year.
In related news, Director Timothy Tomlinson sold 1,477 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $85.30, for a total transaction of $125,988.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.92% of the company’s stock.
Several large investors have recently made changes to their positions in VRSN. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in VeriSign during the second quarter worth approximately $333,000. Kentucky Retirement Systems bought a new stake in VeriSign during the second quarter worth approximately $702,000. Mason Street Advisors LLC bought a new stake in VeriSign during the second quarter worth approximately $1,112,000. Calvert Investment Management Inc. increased its stake in VeriSign by 4.1% in the second quarter. Calvert Investment Management Inc. now owns 5,034 shares of the company’s stock worth $435,000 after buying an additional 200 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in VeriSign by 5.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 511,994 shares of the company’s stock worth $44,269,000 after buying an additional 28,375 shares during the period.
VeriSign Company Profile
VeriSign, Inc is a provider of domain name registry services and Internet security, enabling Internet navigation for domain names and providing protection for Websites and enterprises around the world (Registry Services). The Company operates in Registry Services and Security Services segment. Its product suite also includes Security Services consisting of Distributed Denial of Service (DDoS) Protection Services, Verisign iDefense Security Intelligence Services (iDefense) and Managed Domain Name System (Managed DNS) Services.
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