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VeriSign (VRSN) Advances But Underperforms Market: Key Facts
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VeriSign (VRSN - Free Report) closed at $207.77 in the latest trading session, marking a +0.27% move from the prior day. This change lagged the S&P 500's 0.63% gain on the day. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw an increase of 0.39%.
Heading into today, shares of the internet infrastructure services provider had gained 0.31% over the past month, outpacing the Computer and Technology sector's loss of 2.3% and the S&P 500's loss of 3.39% in that time.
Analysts and investors alike will be keeping a close eye on the performance of VeriSign in its upcoming earnings disclosure. The company's earnings report is set to go public on October 26, 2023. On that day, VeriSign is projected to report earnings of $1.74 per share, which would represent year-over-year growth of 10.13%. Simultaneously, our latest consensus estimate expects the revenue to be $373.79 million, showing a 4.73% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.02 per share and a revenue of $1.49 billion, indicating changes of +12.5% and +4.68%, respectively, from the former year.
Any recent changes to analyst estimates for VeriSign should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. VeriSign is currently a Zacks Rank #2 (Buy).
In the context of valuation, VeriSign is at present trading with a Forward P/E ratio of 29.52. Its industry sports an average Forward P/E of 23.91, so one might conclude that VeriSign is trading at a premium comparatively.
The Internet - Software and Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 23, positioning it in the top 10% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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VeriSign (VRSN) Advances But Underperforms Market: Key Facts
VeriSign (VRSN - Free Report) closed at $207.77 in the latest trading session, marking a +0.27% move from the prior day. This change lagged the S&P 500's 0.63% gain on the day. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw an increase of 0.39%.
Heading into today, shares of the internet infrastructure services provider had gained 0.31% over the past month, outpacing the Computer and Technology sector's loss of 2.3% and the S&P 500's loss of 3.39% in that time.
Analysts and investors alike will be keeping a close eye on the performance of VeriSign in its upcoming earnings disclosure. The company's earnings report is set to go public on October 26, 2023. On that day, VeriSign is projected to report earnings of $1.74 per share, which would represent year-over-year growth of 10.13%. Simultaneously, our latest consensus estimate expects the revenue to be $373.79 million, showing a 4.73% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $7.02 per share and a revenue of $1.49 billion, indicating changes of +12.5% and +4.68%, respectively, from the former year.
Any recent changes to analyst estimates for VeriSign should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. VeriSign is currently a Zacks Rank #2 (Buy).
In the context of valuation, VeriSign is at present trading with a Forward P/E ratio of 29.52. Its industry sports an average Forward P/E of 23.91, so one might conclude that VeriSign is trading at a premium comparatively.
The Internet - Software and Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 23, positioning it in the top 10% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.