Wall Street analysts predict that Verisign, Inc. (NASDAQ:VRSN) will announce $308.68 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Verisign’s earnings. The highest sales estimate is $309.78 million and the lowest is $307.57 million. Verisign reported sales of $305.78 million in the same quarter last year, which indicates a positive year over year growth rate of 0.9%. The business is scheduled to issue its next quarterly earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Verisign will report full year sales of $1.23 billion for the current financial year. For the next year, analysts expect that the business will report sales of $1.30 billion, with estimates ranging from $1.30 billion to $1.31 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Verisign.

Verisign (NASDAQ:VRSN) last released its earnings results on Thursday, July 25th. The information services provider reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.06. The firm had revenue of $306.29 million for the quarter, compared to the consensus estimate of $306.57 million. Verisign had a net margin of 51.38% and a negative return on equity of 43.63%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 EPS.

VRSN has been the topic of a number of recent research reports. ValuEngine downgraded shares of Verisign from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. BidaskClub downgraded shares of Verisign from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, Robert W. Baird upped their target price on shares of Verisign from $210.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Verisign has a consensus rating of “Buy” and an average price target of $204.75.

Shares of NASDAQ:VRSN traded up $1.58 during midday trading on Tuesday, reaching $191.13. The company’s stock had a trading volume of 25,559 shares, compared to its average volume of 538,984. The firm has a 50 day moving average of $204.45 and a 200-day moving average of $198.60. The firm has a market capitalization of $22.54 billion, a P/E ratio of 40.19 and a beta of 1.08. Verisign has a 12-month low of $131.28 and a 12-month high of $221.78.

In related news, Director Timothy Tomlinson sold 575 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $213.50, for a total value of $122,762.50. Following the transaction, the director now owns 34,251 shares in the company, valued at approximately $7,312,588.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. HM Payson & Co. bought a new position in Verisign in the 2nd quarter worth about $25,000. Liberty Wealth Management LLC bought a new position in Verisign in the 2nd quarter worth about $25,000. Capital Investment Advisory Services LLC bought a new position in Verisign in the 2nd quarter worth about $29,000. AGF Investments LLC boosted its stake in Verisign by 102.9% in the 2nd quarter. AGF Investments LLC now owns 138 shares of the information services provider’s stock worth $29,000 after purchasing an additional 70 shares in the last quarter. Finally, Cornerstone Advisors Inc. boosted its stake in Verisign by 208.2% in the 1st quarter. Cornerstone Advisors Inc. now owns 151 shares of the information services provider’s stock worth $27,000 after purchasing an additional 102 shares in the last quarter. Institutional investors own 91.45% of the company’s stock.

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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