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VeriSign (VRSN) Stock Moves -0.51%: What You Should Know
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VeriSign (VRSN - Free Report) closed the most recent trading day at $201.31, moving -0.51% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.37%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 1.87%.
Coming into today, shares of the internet infrastructure services provider had lost 1.37% in the past month. In that same time, the Computer and Technology sector lost 4.68%, while the S&P 500 lost 4.93%.
VeriSign will be looking to display strength as it nears its next earnings release, which is expected to be October 26, 2023. In that report, analysts expect VeriSign to post earnings of $1.74 per share. This would mark year-over-year growth of 10.13%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $373.79 million, up 4.73% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.02 per share and revenue of $1.49 billion, which would represent changes of +12.5% and +4.68%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. VeriSign currently has a Zacks Rank of #2 (Buy).
In terms of valuation, VeriSign is currently trading at a Forward P/E ratio of 28.82. This valuation marks a premium compared to its industry's average Forward P/E of 23.87.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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VeriSign (VRSN) Stock Moves -0.51%: What You Should Know
VeriSign (VRSN - Free Report) closed the most recent trading day at $201.31, moving -0.51% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.37%. Elsewhere, the Dow lost 1.29%, while the tech-heavy Nasdaq lost 1.87%.
Coming into today, shares of the internet infrastructure services provider had lost 1.37% in the past month. In that same time, the Computer and Technology sector lost 4.68%, while the S&P 500 lost 4.93%.
VeriSign will be looking to display strength as it nears its next earnings release, which is expected to be October 26, 2023. In that report, analysts expect VeriSign to post earnings of $1.74 per share. This would mark year-over-year growth of 10.13%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $373.79 million, up 4.73% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.02 per share and revenue of $1.49 billion, which would represent changes of +12.5% and +4.68%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. VeriSign currently has a Zacks Rank of #2 (Buy).
In terms of valuation, VeriSign is currently trading at a Forward P/E ratio of 28.82. This valuation marks a premium compared to its industry's average Forward P/E of 23.87.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 32, putting it in the top 13% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.