VeriSign, Inc. (NASDAQ:VRSN) Issues Quarterly Earnings Results

VeriSign, Inc. (NASDAQ:VRSN) released its quarterly earnings data on Thursday, October 26th. The information services provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.97 by $0.03, Bloomberg Earnings reports. VeriSign had a negative return on equity of 36.88% and a net margin of 39.79%. The company had revenue of $292.40 million for the quarter, compared to analysts’ expectations of $290.90 million. During the same period last year, the firm posted $0.93 earnings per share. VeriSign’s revenue was up 1.7% compared to the same quarter last year.

VeriSign (NASDAQ VRSN) traded up $0.33 during midday trading on Friday, hitting $109.75. The stock had a trading volume of 570,100 shares, compared to its average volume of 791,839. The company has a debt-to-equity ratio of -1.45, a current ratio of 1.57 and a quick ratio of 1.57. VeriSign has a 1 year low of $75.71 and a 1 year high of $110.82. The company has a market capitalization of $10,785.54, a P/E ratio of 30.56 and a beta of 1.03.

In related news, Director Kathleen A. Cote sold 1,500 shares of VeriSign stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $99.94, for a total transaction of $149,910.00. Following the sale, the director now owns 38,294 shares of the company’s stock, valued at approximately $3,827,102.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is owned by company insiders.

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VRSN has been the topic of several recent analyst reports. BidaskClub cut VeriSign from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Robert W. Baird set a $105.00 target price on VeriSign and gave the company a “hold” rating in a report on Friday, October 6th. Cowen and Company reissued a “hold” rating and issued a $103.00 target price on shares of VeriSign in a report on Sunday, October 29th. Citigroup Inc. increased their target price on VeriSign from $101.00 to $111.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Finally, Zacks Investment Research downgraded VeriSign from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company’s stock. VeriSign currently has a consensus rating of “Hold” and an average price target of $106.33.

About VeriSign

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).

Earnings History for VeriSign (NASDAQ:VRSN)

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