VeriSign, Inc. (NASDAQ:VRSN)‘s stock had its “hold” rating restated by equities research analysts at Cowen and Company in a note issued to investors on Sunday. They currently have a $103.00 price target on the information services provider’s stock. Cowen and Company’s price objective indicates a potential downside of 4.27% from the stock’s previous close.
A number of other research analysts have also commented on VRSN. Zacks Investment Research lowered VeriSign from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BidaskClub lowered VeriSign from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Robert W. Baird set a $105.00 target price on VeriSign and gave the company a “hold” rating in a research note on Friday, October 6th. Finally, Citigroup Inc. upped their target price on VeriSign from $101.00 to $111.00 and gave the company a “neutral” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $106.33.
Shares of VeriSign (NASDAQ:VRSN) opened at 107.58 on Friday. The firm’s 50-day moving average is $106.91 and its 200 day moving average is $98.00. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 29.32 and a beta of 1.19. VeriSign has a 1-year low of $75.71 and a 1-year high of $110.82.
VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, October 26th. The information services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.03. VeriSign had a negative return on equity of 36.88% and a net margin of 39.79%. The company had revenue of $292.40 million during the quarter, compared to analysts’ expectations of $290.90 million. During the same period in the prior year, the business earned $0.93 earnings per share. VeriSign’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts expect that VeriSign will post $3.97 EPS for the current fiscal year.
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In related news, Director Kathleen A. Cote sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $99.94, for a total value of $149,910.00. Following the completion of the transaction, the director now directly owns 38,294 shares in the company, valued at $3,827,102.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.92% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of VeriSign by 21.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,420 shares of the information services provider’s stock valued at $133,000 after purchasing an additional 255 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in shares of VeriSign by 109.5% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 1,676 shares of the information services provider’s stock valued at $146,000 after purchasing an additional 876 shares in the last quarter. Acrospire Investment Management LLC raised its stake in shares of VeriSign by 128.6% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the information services provider’s stock valued at $149,000 after purchasing an additional 900 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of VeriSign by 13.4% in the second quarter. Global X Management Co. LLC now owns 1,632 shares of the information services provider’s stock valued at $152,000 after purchasing an additional 193 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of VeriSign by 2.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,086 shares of the information services provider’s stock valued at $194,000 after purchasing an additional 42 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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