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Why VeriSign (VRSN) Dipped More Than Broader Market Today
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VeriSign (VRSN - Free Report) ended the recent trading session at $191.17, demonstrating a -0.42% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.19% for the day. On the other hand, the Dow registered a gain of 0.1%, and the technology-centric Nasdaq decreased by 0.54%.
The internet infrastructure services provider's shares have seen a decrease of 1.3% over the last month, not keeping up with the Computer and Technology sector's gain of 2.36% and the S&P 500's gain of 3.18%.
The investment community will be closely monitoring the performance of VeriSign in its forthcoming earnings report. In that report, analysts expect VeriSign to post earnings of $1.84 per share. This would mark year-over-year growth of 8.24%. Meanwhile, our latest consensus estimate is calling for revenue of $388 million, up 6.48% from the prior-year quarter.
Any recent changes to analyst estimates for VeriSign should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 past month, the Zacks Consensus EPS estimate has remained steady. Right now, VeriSign possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, VeriSign is holding a Forward P/E ratio of 24.55. This represents no noticeable deviation compared to its industry's average Forward P/E of 24.55.
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 45, finds itself in the top 18% echelons 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why VeriSign (VRSN) Dipped More Than Broader Market Today
VeriSign (VRSN - Free Report) ended the recent trading session at $191.17, demonstrating a -0.42% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.19% for the day. On the other hand, the Dow registered a gain of 0.1%, and the technology-centric Nasdaq decreased by 0.54%.
The internet infrastructure services provider's shares have seen a decrease of 1.3% over the last month, not keeping up with the Computer and Technology sector's gain of 2.36% and the S&P 500's gain of 3.18%.
The investment community will be closely monitoring the performance of VeriSign in its forthcoming earnings report. In that report, analysts expect VeriSign to post earnings of $1.84 per share. This would mark year-over-year growth of 8.24%. Meanwhile, our latest consensus estimate is calling for revenue of $388 million, up 6.48% from the prior-year quarter.
Any recent changes to analyst estimates for VeriSign should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 past month, the Zacks Consensus EPS estimate has remained steady. Right now, VeriSign possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, VeriSign is holding a Forward P/E ratio of 24.55. This represents no noticeable deviation compared to its industry's average Forward P/E of 24.55.
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 45, finds itself in the top 18% echelons 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.