Verisign, Inc. (NASDAQ:VRSN) Receives Average Rating of “Buy” from Analysts

Shares of Verisign, Inc. (NASDAQ:VRSN) have earned a consensus rating of “Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $180.80.

A number of research analysts have commented on the company. Zacks Investment Research upgraded Verisign from a “hold” rating to a “buy” rating and set a $224.00 price objective on the stock in a research report on Tuesday, April 30th. BidaskClub upgraded Verisign from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Finally, Citigroup reiterated a “neutral” rating and issued a $195.00 price objective (up from $175.00) on shares of Verisign in a research report on Tuesday, March 5th.

NASDAQ VRSN opened at $205.20 on Friday. The company has a market cap of $24.48 billion, a P/E ratio of 43.20 and a beta of 1.04. Verisign has a one year low of $131.28 and a one year high of $210.06.



Verisign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.06. The firm had revenue of $306.41 million for the quarter, compared to analyst estimates of $302.63 million. Verisign had a negative return on equity of 43.07% and a net margin of 49.98%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $1.07 EPS. On average, analysts anticipate that Verisign will post 4.96 earnings per share for the current year.

In other Verisign news, Director Timothy Tomlinson sold 378 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $199.55, for a total value of $75,429.90. Following the transaction, the director now directly owns 34,094 shares in the company, valued at approximately $6,803,457.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc lifted its stake in shares of Verisign by 4.5% in the 3rd quarter. Vanguard Group Inc now owns 11,368,270 shares of the information services provider’s stock valued at $1,820,286,000 after purchasing an additional 485,685 shares during the period. BlackRock Inc. lifted its stake in shares of Verisign by 9.0% in the 1st quarter. BlackRock Inc. now owns 9,645,753 shares of the information services provider’s stock valued at $1,751,284,000 after purchasing an additional 797,069 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Verisign by 4.3% in the 1st quarter. Renaissance Technologies LLC now owns 7,330,876 shares of the information services provider’s stock valued at $1,330,994,000 after purchasing an additional 299,876 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Verisign by 41,120.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,763,452 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 3,754,322 shares during the period. Finally, Investec Asset Management LTD lifted its stake in shares of Verisign by 1.6% in the 1st quarter. Investec Asset Management LTD now owns 2,631,523 shares of the information services provider’s stock valued at $477,779,000 after purchasing an additional 40,572 shares during the period. 91.65% of the stock is currently owned by institutional investors.

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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