Verisign, Inc. (VRSN) Receives $170.00 Average PT from Brokerages

Verisign, Inc. (NASDAQ:VRSN) has been given an average recommendation of “Buy” by the seven ratings firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $170.00.

A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Verisign from a “hold” rating to a “buy” rating and set a $164.00 target price on the stock in a report on Monday, December 31st. BidaskClub upgraded shares of Verisign from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Citigroup reiterated a “neutral” rating and issued a $195.00 target price (up from $175.00) on shares of Verisign in a report on Tuesday, March 5th. Finally, ValuEngine upgraded shares of Verisign from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 12th.

In other news, Director Timothy Tomlinson sold 580 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $175.12, for a total transaction of $101,569.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.35% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in VRSN. Capital International Investors acquired a new stake in shares of Verisign during the third quarter valued at approximately $991,190,000. Oregon Public Employees Retirement Fund raised its holdings in shares of Verisign by 41,120.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,763,452 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 3,754,322 shares during the period. Norges Bank acquired a new stake in shares of Verisign during the fourth quarter valued at approximately $186,459,000. Vanguard Group Inc raised its holdings in shares of Verisign by 4.5% during the third quarter. Vanguard Group Inc now owns 11,368,270 shares of the information services provider’s stock valued at $1,820,286,000 after acquiring an additional 485,685 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Verisign by 4.5% during the third quarter. Vanguard Group Inc. now owns 11,368,270 shares of the information services provider’s stock valued at $1,820,286,000 after acquiring an additional 485,685 shares during the period. Institutional investors and hedge funds own 93.17% of the company’s stock.

Shares of NASDAQ VRSN traded up $0.19 during midday trading on Friday, reaching $181.62. The company’s stock had a trading volume of 1,226,000 shares, compared to its average volume of 628,674. Verisign has a one year low of $114.01 and a one year high of $183.43. The company has a market capitalization of $21.72 billion, a P/E ratio of 38.24 and a beta of 1.08.

Verisign (NASDAQ:VRSN) last released its earnings results on Thursday, February 7th. The information services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.37. Verisign had a net margin of 47.94% and a negative return on equity of 42.50%. The business had revenue of $307.45 million for the quarter, compared to the consensus estimate of $308.64 million. During the same period in the previous year, the firm earned $0.96 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, analysts forecast that Verisign will post 4.75 EPS for the current year.

Verisign Company Profile

VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.

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