Analysts Set Verisign (VRSN) Price Target at $109.25

Verisign (NASDAQ:VRSN) has received a consensus rating of “Hold” from the seven research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $109.25.

Several equities analysts have recently weighed in on the stock. BidaskClub downgraded shares of Verisign from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research cut shares of Verisign from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 1st. Citigroup boosted their price objective on shares of Verisign from $111.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, April 30th. ValuEngine raised shares of Verisign from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, JPMorgan Chase boosted their price objective on shares of Verisign to $106.00 and gave the company an “underweight” rating in a research note on Monday, February 26th.

A number of large investors have recently modified their holdings of VRSN. Bank of Montreal Can grew its stake in Verisign by 187.6% during the fourth quarter. Bank of Montreal Can now owns 653,586 shares of the information services provider’s stock valued at $74,797,000 after acquiring an additional 426,334 shares in the last quarter. Acadian Asset Management LLC grew its stake in Verisign by 25.4% during the fourth quarter. Acadian Asset Management LLC now owns 170,077 shares of the information services provider’s stock valued at $19,462,000 after acquiring an additional 34,434 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Verisign by 166.8% during the fourth quarter. State of Alaska Department of Revenue now owns 42,939 shares of the information services provider’s stock valued at $4,912,000 after acquiring an additional 26,842 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Verisign during the fourth quarter valued at approximately $1,171,000. Finally, Denali Advisors LLC grew its stake in Verisign by 7.4% during the fourth quarter. Denali Advisors LLC now owns 13,100 shares of the information services provider’s stock valued at $1,499,000 after acquiring an additional 900 shares in the last quarter.

Shares of Verisign traded up $0.24, hitting $127.36, during trading hours on Friday, according to MarketBeat. The company’s stock had a trading volume of 711,700 shares, compared to its average volume of 1,097,328. The company has a market capitalization of $12.29 billion, a price-to-earnings ratio of 34.54 and a beta of 0.87. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of -1.44. Verisign has a 52-week low of $126.14 and a 52-week high of $127.48.

Verisign (NASDAQ:VRSN) last posted its earnings results on Thursday, April 26th. The information services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.01. The firm had revenue of $299.29 million during the quarter, compared to the consensus estimate of $298.00 million. Verisign had a net margin of 40.41% and a negative return on equity of 37.57%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.96 earnings per share. sell-side analysts expect that Verisign will post 4.28 earnings per share for the current fiscal year.

Verisign declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 8th that permits the company to buyback $586.00 million in shares. This buyback authorization permits the information services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Verisign Company Profile

VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.

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