BidaskClub upgraded shares of Verisign (NASDAQ:VRSN) from a buy rating to a strong-buy rating in a research note issued to investors on Friday.
A number of other equities research analysts have also weighed in on the stock. ValuEngine upgraded shares of Verisign from a hold rating to a buy rating in a report on Thursday, March 1st. JPMorgan Chase & Co. boosted their price objective on shares of Verisign to $106.00 and gave the stock an underweight rating in a report on Monday, February 26th. Finally, Zacks Investment Research upgraded shares of Verisign from a sell rating to a hold rating in a report on Tuesday, December 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $106.25.
Shares of Verisign (VRSN) traded up $0.61 during trading on Friday, reaching $125.92. 1,937,716 shares of the company’s stock traded hands, compared to its average volume of 1,144,592. Verisign has a twelve month low of $86.16 and a twelve month high of $127.24. The company has a market capitalization of $12,170.17, a price-to-earnings ratio of 34.52 and a beta of 0.89. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of -1.41.
Verisign (NASDAQ:VRSN) last announced its earnings results on Thursday, February 8th. The information services provider reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.01). The company had revenue of $295.50 million for the quarter, compared to the consensus estimate of $294.93 million. Verisign had a net margin of 39.25% and a negative return on equity of 36.88%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 earnings per share. analysts anticipate that Verisign will post 4.19 EPS for the current year.
Verisign announced that its Board of Directors has authorized a share buyback program on Thursday, February 8th that allows the company to repurchase $586.00 million in shares. This repurchase authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
Several institutional investors and hedge funds have recently made changes to their positions in VRSN. Grove Bank & Trust lifted its holdings in shares of Verisign by 186.5% in the 3rd quarter. Grove Bank & Trust now owns 1,060 shares of the information services provider’s stock worth $113,000 after acquiring an additional 690 shares during the last quarter. Twin Tree Management LP bought a new stake in Verisign during the 4th quarter valued at $172,000. Mckinley Capital Management LLC Delaware bought a new stake in Verisign during the 4th quarter valued at $177,000. Visionary Asset Management Inc. bought a new stake in Verisign during the 3rd quarter valued at $200,000. Finally, Candriam Luxembourg S.C.A. bought a new stake in Verisign during the 4th quarter valued at $208,000.
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Verisign Company Profile
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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