Verisign (VRSN) Sets New 1-Year High at $191.20

Share on StockTwits

Verisign, Inc. (NASDAQ:VRSN) shares reached a new 52-week high during trading on Monday . The company traded as high as $191.20 and last traded at $189.09, with a volume of 9808 shares changing hands. The stock had previously closed at $189.60.

A number of research analysts have recently commented on VRSN shares. Zacks Investment Research upgraded Verisign from a “hold” rating to a “buy” rating and set a $195.00 price objective on the stock in a report on Saturday, February 9th. BidaskClub upgraded 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 price objective (up previously from $175.00) on shares of Verisign in a report on Tuesday, March 5th. Finally, ValuEngine upgraded Verisign from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 12th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $175.00.

The company has a market capitalization of $22.57 billion, a PE ratio of 39.75 and a beta of 1.07.

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

In other Verisign news, Director Timothy Tomlinson sold 580 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $175.12, for a total transaction of $101,569.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.35% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of VRSN. Meeder Asset Management Inc. acquired a new stake in shares of Verisign in the 1st quarter valued at approximately $95,000. Flagship Harbor Advisors LLC raised its holdings in Verisign by 12.9% during the first quarter. Flagship Harbor Advisors LLC now owns 620 shares of the information services provider’s stock worth $112,000 after purchasing an additional 71 shares during the last quarter. Sciencast Management LP acquired a new position in Verisign during the first quarter worth $509,000. Virtu Financial LLC acquired a new position in Verisign during the first quarter worth $1,483,000. Finally, Ipswich Investment Management Co. Inc. raised its holdings in Verisign by 5.3% during the first quarter. Ipswich Investment Management Co. Inc. now owns 3,500 shares of the information services provider’s stock worth $635,000 after purchasing an additional 175 shares during the last quarter. 94.04% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This story was first posted by Macon Daily and is the property of of Macon Daily. If you are accessing this story on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://macondaily.com/2019/04/17/verisign-vrsn-sets-new-1-year-high-at-191-20.html.

Verisign Company Profile (NASDAQ:VRSN)

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.

Read More: How accurate is the Rule of 72?

Receive News & Ratings for Verisign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verisign and related companies with MarketBeat.com's FREE daily email newsletter.