BidaskClub upgraded shares of Verisign (NASDAQ:VRSN) from a buy rating to a strong-buy rating in a report released on Friday, March 16th.
VRSN has been the subject of several other research reports. ValuEngine upgraded shares of Verisign from a hold rating to a buy rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded shares of Verisign from a sell rating to a hold rating in a research report on Tuesday, December 26th. Finally, JPMorgan Chase boosted their target price on shares of Verisign to $106.00 and gave the company an underweight rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $106.25.
Verisign stock traded down $1.53 during midday trading on Friday, hitting $117.69. The company’s stock had a trading volume of 1,082,266 shares, compared to its average volume of 1,254,232. Verisign has a 1-year low of $87.02 and a 1-year high of $127.24. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of -1.41. The stock has a market capitalization of $11,430.17, a price-to-earnings ratio of 31.98 and a beta of 0.86.
Verisign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, February 8th. The information services provider reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.01). Verisign had a negative return on equity of 36.88% and a net margin of 39.25%. The business had revenue of $295.50 million during the quarter, compared to analyst estimates of $294.93 million. During the same quarter last year, the firm earned $0.92 EPS. Verisign’s revenue for the quarter was up 3.2% compared to the same quarter last year. sell-side analysts anticipate that Verisign will post 4.19 earnings per share for the current fiscal year.
Verisign declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 8th that permits the company to repurchase $586.00 million in shares. This repurchase authorization permits the information services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
Several large investors have recently modified their holdings of the company. Xact Kapitalforvaltning AB grew its holdings in shares of Verisign by 4.7% during the 4th quarter. Xact Kapitalforvaltning AB now owns 29,130 shares of the information services provider’s stock valued at $3,334,000 after purchasing an additional 1,304 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Verisign by 45.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 29,255 shares of the information services provider’s stock worth $3,348,000 after acquiring an additional 9,172 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in Verisign during the 4th quarter worth approximately $3,002,000. Jump Trading LLC bought a new stake in Verisign during the 4th quarter worth approximately $474,000. Finally, MainStreet Investment Advisors LLC bought a new stake in Verisign during the 4th quarter worth approximately $932,000.
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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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