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VeriSign (VRSN) Exceeds Market Returns: Some Facts to Consider
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In the latest market close, VeriSign (VRSN - Free Report) reached $189.10, with a +1.07% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.86%. On the other hand, the Dow registered a gain of 1.22%, and the technology-centric Nasdaq increased by 0.51%.
Prior to today's trading, shares of the internet infrastructure services provider had lost 3.34% over the past month. This has lagged the Computer and Technology sector's gain of 3.76% and the S&P 500's gain of 2.84% in that time.
Market participants will be closely following the financial results of VeriSign in its upcoming release. The company is predicted to post an EPS of $1.84, indicating an 8.24% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $388 million, up 6.48% from the year-ago period.
It is also important to note the recent changes to analyst estimates for VeriSign. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained stagnant. Right now, VeriSign possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, VeriSign is currently exchanging hands at a Forward P/E ratio of 23.93. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 23.93.
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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) Exceeds Market Returns: Some Facts to Consider
In the latest market close, VeriSign (VRSN - Free Report) reached $189.10, with a +1.07% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.86%. On the other hand, the Dow registered a gain of 1.22%, and the technology-centric Nasdaq increased by 0.51%.
Prior to today's trading, shares of the internet infrastructure services provider had lost 3.34% over the past month. This has lagged the Computer and Technology sector's gain of 3.76% and the S&P 500's gain of 2.84% in that time.
Market participants will be closely following the financial results of VeriSign in its upcoming release. The company is predicted to post an EPS of $1.84, indicating an 8.24% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $388 million, up 6.48% from the year-ago period.
It is also important to note the recent changes to analyst estimates for VeriSign. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained stagnant. Right now, VeriSign possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, VeriSign is currently exchanging hands at a Forward P/E ratio of 23.93. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 23.93.
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.