VeriSign, Inc., together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. It enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of the 13 internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which support global e-commerce. The company also back-end systems for .cc, .gov, .edu, and .name domain names, as well as operates distributed servers, networking, security, and data integrity services. VeriSign, Inc. was incorporated in 1995 and is headquartered in Reston, Virginia.
Wall Street Analyst Weigh In
Separately, Robert W. Baird downgraded shares of VeriSign from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $260.00 to $210.00 in a research report on Friday, April 29th.
VeriSign Trading Up 1.8 %
VRSN Stock traded up $3.61 during mid-day trading on Wednesday, hitting $199.85. 442,105 shares of the company were exchanged, compared to its average volume of 695,434. The business has a 50 day simple moving average of $176.15 and a 200-day simple moving average of $193.91. The stock has a market capitalization of $21.44 billion, a PE ratio of 27.23 and a beta of 1.00. VeriSign has a 1-year low of $155.25 and a 1-year high of $257.03.
VeriSign (NASDAQ:VRSN - Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The information services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.02. The firm had revenue of $351.90 million during the quarter, compared to the consensus estimate of $348.77 million. VeriSign had a net margin of 59.09% and a negative return on equity of 47.84%. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $1.31 earnings per share. Equities research analysts expect that VeriSign will post 6.05 earnings per share for the current year.
Insider Activity
In other news, Director Timothy Tomlinson sold 685 shares of VeriSign stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $186.80, for a total value of $127,958.00. Following the completion of the sale, the director now directly owns 15,692 shares in the company, valued at $2,931,265.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.98% of the stock is owned by company insiders.