We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
VeriSign (VRSN) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
VeriSign (VRSN - Free Report) closed at $215.83 in the latest trading session, marking a +0.98% move from the prior day. This move outpaced the S&P 500's daily gain of 0.74%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 11.47%.
Prior to today's trading, shares of the internet infrastructure services provider had lost 4.35% over the past month. This has lagged the Computer and Technology sector's gain of 2.44% and the S&P 500's gain of 3.34% in that time.
Investors will be hoping for strength from VeriSign as it approaches its next earnings release, which is expected to be July 27, 2023. On that day, VeriSign is projected to report earnings of $1.70 per share, which would represent year-over-year growth of 10.39%. Our most recent consensus estimate is calling for quarterly revenue of $372.02 million, up 5.72% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.91 per share and revenue of $1.49 billion, which would represent changes of +10.74% and +4.88%, respectively, from the prior year.
Any recent changes to analyst estimates for VeriSign should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.14% lower. VeriSign currently has a Zacks Rank of #4 (Sell).
Digging into valuation, VeriSign currently has a Forward P/E ratio of 30.93. For comparison, its industry has an average Forward P/E of 16.94, which means VeriSign is trading at a premium to the group.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow VRSN in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
VeriSign (VRSN) Outpaces Stock Market Gains: What You Should Know
VeriSign (VRSN - Free Report) closed at $215.83 in the latest trading session, marking a +0.98% move from the prior day. This move outpaced the S&P 500's daily gain of 0.74%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 11.47%.
Prior to today's trading, shares of the internet infrastructure services provider had lost 4.35% over the past month. This has lagged the Computer and Technology sector's gain of 2.44% and the S&P 500's gain of 3.34% in that time.
Investors will be hoping for strength from VeriSign as it approaches its next earnings release, which is expected to be July 27, 2023. On that day, VeriSign is projected to report earnings of $1.70 per share, which would represent year-over-year growth of 10.39%. Our most recent consensus estimate is calling for quarterly revenue of $372.02 million, up 5.72% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.91 per share and revenue of $1.49 billion, which would represent changes of +10.74% and +4.88%, respectively, from the prior year.
Any recent changes to analyst estimates for VeriSign should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.14% lower. VeriSign currently has a Zacks Rank of #4 (Sell).
Digging into valuation, VeriSign currently has a Forward P/E ratio of 30.93. For comparison, its industry has an average Forward P/E of 16.94, which means VeriSign is trading at a premium to the group.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow VRSN in the coming trading sessions, be sure to utilize Zacks.com.