Verisign, Inc. (VRSN) Given Average Recommendation of “Buy” by Brokerages
Verisign, Inc. (NASDAQ:VRSN) has earned a consensus rating of “Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $180.80.
Several research firms have commented on VRSN. Zacks Investment Research raised Verisign from a “hold” rating to a “buy” rating and set a $224.00 price objective for the company in a research note on Tuesday, April 30th. BidaskClub raised Verisign from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. Citigroup reaffirmed a “neutral” rating and set a $195.00 price objective (up from $175.00) on shares of Verisign in a research note on Tuesday, March 5th. Finally, ValuEngine raised Verisign from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 12th.
In other news, Director Timothy Tomlinson sold 378 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $199.55, for a total transaction of $75,429.90. Following the completion of the transaction, the director now directly owns 34,094 shares of the company’s stock, valued at approximately $6,803,457.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.
VRSN opened at $195.56 on Wednesday. The company has a market cap of $23.28 billion, a price-to-earnings ratio of 41.17 and a beta of 1.08. Verisign has a 52 week low of $126.52 and a 52 week high of $203.28.
Verisign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.06. The firm had revenue of $306.41 million during the quarter, compared to the consensus estimate of $302.63 million. Verisign had a negative return on equity of 43.07% and a net margin of 49.98%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.07 EPS. As a group, equities research analysts predict that Verisign will post 4.96 earnings per share for the current year.
Verisign Company Profile
VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.
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