VeriSign, Inc. (NASDAQ:VRSN) had its price target upped by stock analysts at Citigroup Inc. from $101.00 to $111.00 in a report released on Friday, October 27th. The firm currently has a “neutral” rating on the information services provider’s stock. Citigroup Inc.’s target price points to a potential upside of 1.14% from the company’s previous close.
A number of other research firms also recently issued reports on VRSN. Robert W. Baird set a $105.00 target price on shares of VeriSign and gave the company a “hold” rating in a research report on Friday, October 6th. BidaskClub upgraded shares of VeriSign from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Zacks Investment Research downgraded shares of VeriSign from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Cowen and Company restated a “market perform” rating and set a $94.00 target price on shares of VeriSign in a research report on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. VeriSign presently has a consensus rating of “Hold” and a consensus target price of $106.33.
VeriSign (NASDAQ VRSN) traded up $0.33 during trading hours on Friday, hitting $109.75. 570,100 shares of the stock traded hands, compared to its average volume of 791,839. VeriSign has a 1-year low of $75.71 and a 1-year high of $110.82. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of -1.45. The firm has a market capitalization of $10,785.54, a P/E ratio of 30.56 and a beta of 1.03.
VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, October 26th. The information services provider reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.03. The business had revenue of $292.40 million during the quarter, compared to the consensus estimate of $290.90 million. VeriSign had a net margin of 39.79% and a negative return on equity of 36.88%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share. research analysts forecast that VeriSign will post 3.65 earnings per share for the current fiscal year.
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In other news, Director Kathleen A. Cote sold 1,500 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $99.94, for a total transaction of $149,910.00. Following the completion of the sale, the director now owns 38,294 shares of the company’s stock, valued at $3,827,102.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of VeriSign by 3.4% during the second quarter. Vanguard Group Inc. now owns 8,782,015 shares of the information services provider’s stock worth $816,376,000 after purchasing an additional 292,054 shares in the last quarter. BlackRock Inc. increased its stake in shares of VeriSign by 8.9% during the second quarter. BlackRock Inc. now owns 8,394,049 shares of the information services provider’s stock worth $780,310,000 after purchasing an additional 687,358 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of VeriSign by 22.9% during the second quarter. Renaissance Technologies LLC now owns 5,045,476 shares of the information services provider’s stock worth $469,027,000 after purchasing an additional 941,100 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of VeriSign by 5.7% during the third quarter. Principal Financial Group Inc. now owns 3,457,625 shares of the information services provider’s stock worth $367,857,000 after purchasing an additional 187,012 shares in the last quarter. Finally, Investec Asset Management LTD grew its stake in VeriSign by 11.0% during the 2nd quarter. Investec Asset Management LTD now owns 2,486,365 shares of the information services provider’s stock valued at $231,132,000 after acquiring an additional 247,127 shares in the last quarter.
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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