VeriSign (NASDAQ:VRSN) Announces Earnings Results

VeriSign (NASDAQ:VRSN) issued its quarterly earnings results on Thursday. The information services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.06, Briefing.com reports. The company had revenue of $384.30 million for the quarter, compared to the consensus estimate of $381.85 million. VeriSign had a negative return on equity of 47.39% and a net margin of 55.04%. VeriSign’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.70 earnings per share. VeriSign updated its FY 2024 guidance to EPS.

VeriSign Trading Down 3.9 %

Shares of NASDAQ VRSN opened at $175.48 on Friday. The stock has a market capitalization of $17.57 billion, a PE ratio of 21.56 and a beta of 0.88. The stock has a fifty day simple moving average of $189.29 and a 200-day simple moving average of $200.03. VeriSign has a twelve month low of $174.51 and a twelve month high of $229.72.

Insider Activity at VeriSign

In related news, EVP Thomas C. Indelicarto sold 613 shares of VeriSign stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $199.05, for a total value of $122,017.65. Following the completion of the transaction, the executive vice president now directly owns 34,816 shares in the company, valued at $6,930,124.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Thomas C. Indelicarto sold 614 shares of VeriSign stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $190.00, for a total value of $116,660.00. Following the completion of the transaction, the executive vice president now directly owns 41,955 shares in the company, valued at $7,971,450. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas C. Indelicarto sold 613 shares of VeriSign stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $199.05, for a total value of $122,017.65. Following the completion of the transaction, the executive vice president now owns 34,816 shares of the company’s stock, valued at $6,930,124.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,877 shares of company stock worth $2,878,864. Company insiders own 0.94% of the company’s stock.

Wall Street Analysts Forecast Growth

VRSN has been the topic of a number of recent analyst reports. StockNews.com downgraded VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Citigroup decreased their target price on VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, April 2nd. Finally, Robert W. Baird decreased their target price on VeriSign from $215.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday.

VeriSign Company Profile

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.