VeriSign, Inc. (VRSN) Stock Rating Reaffirmed by Robert W. Baird
VeriSign, Inc. (NASDAQ:VRSN)‘s stock had its “hold” rating reaffirmed by analysts at Robert W. Baird in a research report issued on Thursday. They currently have a $105.00 price target on the information services provider’s stock. Robert W. Baird’s price target would indicate a potential upside of 1.02% from the company’s previous close.
Several other analysts also recently weighed in on the company. BidaskClub raised VeriSign from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Zacks Investment Research downgraded VeriSign from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $94.00 target price on shares of VeriSign in a research note on Monday, July 3rd. One 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 stock. The stock has an average rating of “Hold” and a consensus target price of $92.75.
Shares of VeriSign (NASDAQ:VRSN) opened at 103.94 on Thursday. The stock has a market cap of $10.39 billion, a PE ratio of 28.33 and a beta of 1.20. VeriSign has a 52 week low of $74.46 and a 52 week high of $104.25. The firm has a 50-day moving average price of $99.99 and a 200-day moving average price of $91.81.
VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, July 27th. The information services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.06. The business had revenue of $289 million for the quarter, compared to the consensus estimate of $287.47 million. VeriSign had a negative return on equity of 36.99% and a net margin of 39.92%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. On average, analysts forecast that VeriSign will post $3.97 earnings per share for the current fiscal year.
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In other VeriSign news, Director Kathleen A. Cote sold 1,500 shares of VeriSign stock in a transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy Tomlinson sold 1,240 shares of VeriSign stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $101.00, for a total value of $125,240.00. The disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in VRSN. Toronto Dominion Bank increased its stake in shares of VeriSign by 24.5% in the second quarter. Toronto Dominion Bank now owns 29,982 shares of the information services provider’s stock valued at $2,787,000 after buying an additional 5,901 shares during the last quarter. Colony Group LLC increased its stake in VeriSign by 6.0% in the second quarter. Colony Group LLC now owns 118,763 shares of the information services provider’s stock worth $11,040,000 after buying an additional 6,736 shares in the last quarter. Koch Industries Inc. increased its stake in VeriSign by 10,263.6% in the second quarter. Koch Industries Inc. now owns 875,519 shares of the information services provider’s stock worth $866,000 after buying an additional 867,071 shares in the last quarter. Cypress Capital Group purchased a new stake in VeriSign during the second quarter worth approximately $266,000. Finally, Scotia Capital Inc. increased its stake in VeriSign by 0.6% in the second quarter. Scotia Capital Inc. now owns 12,000 shares of the information services provider’s stock worth $1,115,000 after buying an additional 75 shares in the last quarter.
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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