VeriSign (NASDAQ:VRSN) Issues Quarterly Earnings Results

VeriSign (NASDAQ:VRSN) posted its quarterly earnings data on Thursday. The information services provider reported $2.00 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.00, Zacks reports. VeriSign had a net margin of 55.74% and a negative return on equity of 45.59%.

VeriSign Stock Down 0.3 %

Shares of VRSN stock traded down $0.73 on Thursday, hitting $220.18. The company had a trading volume of 889,911 shares, compared to its average volume of 712,371. VeriSign has a twelve month low of $167.04 and a twelve month high of $222.25. The firm has a market cap of $21.16 billion, a P/E ratio of 25.60 and a beta of 0.90. The company has a 50-day moving average price of $204.11 and a 200-day moving average price of $190.11.

Insider Activity at VeriSign

In related news, EVP Danny R. Mcpherson sold 2,092 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $192.43, for a total value of $402,563.56. Following the completion of the transaction, the executive vice president now owns 26,157 shares of the company’s stock, valued at approximately $5,033,391.51. This represents a 7.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.84% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on VRSN shares. Robert W. Baird raised shares of VeriSign from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $200.00 to $250.00 in a report on Monday, December 9th. Citigroup lifted their price target on VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday. Baird R W raised VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, December 9th. Finally, StockNews.com raised VeriSign from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th.

About VeriSign

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.