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VeriSign (VRSN) Ascends But Remains Behind Market: Some Facts to Note
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VeriSign (VRSN - Free Report) closed the most recent trading day at $192.65, moving +0.68% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.03%. Meanwhile, the Dow gained 0.34%, and the Nasdaq, a tech-heavy index, added 1.51%.
Shares of the internet infrastructure services provider have depreciated by 4.46% over the course of the past month, underperforming the Computer and Technology sector's gain of 2.52% and the S&P 500's gain of 3.21%.
The investment community will be paying close attention to the earnings performance of VeriSign in its upcoming release. The company is forecasted to report an EPS of $1.84, showcasing an 8.24% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $388 million, up 6.48% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for VeriSign. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, VeriSign is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, VeriSign is holding a Forward P/E ratio of 24.47. This valuation marks a premium compared to its industry's average Forward P/E of 23.57.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% 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.
To follow VRSN in the coming trading sessions, be sure to utilize Zacks.com.
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VeriSign (VRSN) Ascends But Remains Behind Market: Some Facts to Note
VeriSign (VRSN - Free Report) closed the most recent trading day at $192.65, moving +0.68% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.03%. Meanwhile, the Dow gained 0.34%, and the Nasdaq, a tech-heavy index, added 1.51%.
Shares of the internet infrastructure services provider have depreciated by 4.46% over the course of the past month, underperforming the Computer and Technology sector's gain of 2.52% and the S&P 500's gain of 3.21%.
The investment community will be paying close attention to the earnings performance of VeriSign in its upcoming release. The company is forecasted to report an EPS of $1.84, showcasing an 8.24% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $388 million, up 6.48% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for VeriSign. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, VeriSign is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, VeriSign is holding a Forward P/E ratio of 24.47. This valuation marks a premium compared to its industry's average Forward P/E of 23.57.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 60, putting it in the top 24% 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.
To follow VRSN in the coming trading sessions, be sure to utilize Zacks.com.