VeriSign Inc. (VRSN) Shares Up 8.6%
VeriSign Inc. (NASDAQ:VRSN) shares shot up 8.6% during trading on Friday . The stock traded as high as $82.88 and last traded at $81.23, with a volume of 3,194,050 shares. The stock had previously closed at $74.81.
Several brokerages have recently commented on VRSN. JPMorgan Chase & Co. lifted their target price on VeriSign from $84.00 to $88.00 and gave the stock an “underweight” rating in a research report on Friday, July 29th. Zacks Investment Research lowered VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th.
The stock’s 50-day moving average price is $80.71 and its 200-day moving average price is $84.83. The company has a market capitalization of $8.44 billion and a price-to-earnings ratio of 25.17.
VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. During the same quarter last year, the company posted $0.74 EPS. The company had revenue of $286 million for the quarter, compared to the consensus estimate of $284.34 million. The business’s revenue was up 9.1% compared to the same quarter last year. Equities research analysts forecast that VeriSign Inc. will post $3.49 earnings per share for the current fiscal year.
In related news, Director Timothy Tomlinson sold 1,477 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $85.30, for a total transaction of $125,988.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
A hedge fund recently raised its stake in VeriSign stock. Baird Financial Group Inc. increased its stake in shares of VeriSign Inc. (NASDAQ:VRSN) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,877 shares of the company’s stock after buying an additional 1,424 shares during the period. Baird Financial Group Inc.’s holdings in VeriSign were worth $2,872,000 as of its most recent filing with the SEC.
VeriSign, Inc is a provider of domain name registry services and Internet security, enabling Internet navigation for domain names and providing protection for Websites and enterprises around the world (Registry Services). The Company operates in Registry Services and Security Services segment. Its product suite also includes Security Services consisting of Distributed Denial of Service (DDoS) Protection Services, Verisign iDefense Security Intelligence Services (iDefense) and Managed Domain Name System (Managed DNS) Services.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.