Shares of Verisign (NASDAQ:VRSN) reached a new 52-week high and low during trading on Thursday . The stock traded as low as $129.00 and last traded at $128.19, with a volume of 12545 shares trading hands. The stock had previously closed at $128.04.
VRSN has been the subject of several recent analyst reports. BidaskClub upgraded Verisign from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. ValuEngine upgraded Verisign from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research upgraded Verisign from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a report on Friday, April 13th. Citigroup lifted their price target on Verisign from $111.00 to $123.00 and gave the company a “neutral” rating in a report on Monday, April 30th. Finally, JPMorgan Chase & Co. boosted their target price on Verisign to $106.00 and gave the stock an “underweight” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $113.80.
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The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of -1.44. The firm has a market capitalization of $12.43 billion, a PE ratio of 34.27 and a beta of 0.87.
Verisign (NASDAQ:VRSN) last issued its earnings results on Thursday, April 26th. The information services provider reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.01. Verisign had a negative return on equity of 37.57% and a net margin of 40.41%. The business had revenue of $299.29 million during the quarter, compared to analysts’ expectations of $298.00 million. During the same quarter in the previous year, the business earned $0.96 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. analysts expect that Verisign will post 4.28 earnings per share for the current year.
Verisign announced that its Board of Directors has initiated a share buyback program on Thursday, February 8th that permits the company to buyback $586.00 million in shares. This buyback authorization permits the information services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Several large investors have recently modified their holdings of VRSN. Silvant Capital Management LLC purchased a new stake in shares of Verisign during the 1st quarter worth about $126,000. Rampart Investment Management Company LLC purchased a new stake in shares of Verisign during the 1st quarter worth about $161,000. Twin Tree Management LP purchased a new stake in shares of Verisign during the 4th quarter worth about $172,000. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Verisign during the 4th quarter worth about $177,000. Finally, Candriam Luxembourg S.C.A. purchased a new stake in shares of Verisign during the 4th quarter worth about $208,000.
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.