Verisign, Inc. (VRSN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Verisign, Inc. (NASDAQ:VRSN) have received an average rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $160.00.

A number of brokerages have commented on VRSN. Citigroup upped their target price on shares of Verisign from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Friday. JPMorgan Chase & Co. upped their target price on shares of Verisign from $123.00 to $125.00 and gave the company an “average” rating in a report on Monday, September 24th. BidaskClub raised shares of Verisign from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 30th. Robert W. Baird reaffirmed a “hold” rating and set a $160.00 target price on shares of Verisign in a report on Friday, July 27th. Finally, Cowen reaffirmed a “hold” rating and set a $155.00 target price on shares of Verisign in a report on Friday, July 27th.

Shares of VRSN stock opened at $165.02 on Friday. Verisign has a 12 month low of $105.40 and a 12 month high of $176.76. The company has a market cap of $16.76 billion, a price-to-earnings ratio of 44.84 and a beta of 0.89.

Verisign (NASDAQ:VRSN) last announced its earnings results on Thursday, October 25th. The information services provider reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.13. Verisign had a net margin of 41.82% and a negative return on equity of 38.09%. The business had revenue of $305.78 million during the quarter, compared to analysts’ expectations of $305.25 million. As a group, equities research analysts predict that Verisign will post 4.37 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nomura Holdings Inc. increased its stake in shares of Verisign by 32.7% in the second quarter. Nomura Holdings Inc. now owns 22,102 shares of the information services provider’s stock worth $3,037,000 after purchasing an additional 5,452 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Verisign by 4.8% in the second quarter. Schroder Investment Management Group now owns 839,617 shares of the information services provider’s stock worth $64,137,000 after purchasing an additional 38,232 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Verisign by 38.0% in the second quarter. Cubist Systematic Strategies LLC now owns 11,157 shares of the information services provider’s stock worth $1,533,000 after purchasing an additional 3,072 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Verisign by 3.1% in the third quarter. First Trust Advisors LP now owns 1,822,904 shares of the information services provider’s stock worth $291,883,000 after purchasing an additional 54,837 shares in the last quarter. Finally, Securian Asset Management Inc increased its stake in shares of Verisign by 16.7% in the second quarter. Securian Asset Management Inc now owns 9,930 shares of the information services provider’s stock worth $1,365,000 after purchasing an additional 1,420 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

About Verisign

VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.

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