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 traded. The stock had previously closed at $74.81.
Several analysts recently commented on VRSN shares. JPMorgan Chase & Co. raised their price target on shares of VeriSign from $84.00 to $88.00 and gave the stock an “underweight” rating in a report on Friday, July 29th. Zacks Investment Research cut shares of VeriSign from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th.
The firm’s 50-day moving average is $80.82 and its 200 day moving average is $84.83. The firm has a market cap of $8.44 billion and a PE ratio of 25.17.
VeriSign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The firm had revenue of $286 million for the quarter, compared to the consensus estimate of $284.34 million. During the same period in the prior year, the firm posted $0.74 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts expect that VeriSign Inc. will post $3.49 EPS for the current year.
In other VeriSign 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
A hedge fund recently raised its stake in VeriSign stock. Baird Financial Group Inc. raised its stake in shares of VeriSign Inc. (NASDAQ:VRSN) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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.
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