VeriSign (NASDAQ:VRSN) Posts Earnings Results, Beats Expectations By $0.06 EPS

VeriSign (NASDAQ:VRSN - Get Free Report) posted its earnings results on Thursday. The information services provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.06, Briefing.com reports. VeriSign had a net margin of 55.40% and a negative return on equity of 46.63%. The firm had revenue of $390.60 million during the quarter, compared to the consensus estimate of $390.19 million. During the same quarter last year, the firm earned $1.83 EPS. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. VeriSign updated its FY 2024 guidance to EPS.

VeriSign Stock Down 2.1 %

VRSN stock traded down $3.86 during midday trading on Friday, hitting $181.26. The company's stock had a trading volume of 951,074 shares, compared to its average volume of 661,665. VeriSign has a 52-week low of $167.04 and a 52-week high of $220.91. The firm has a 50-day simple moving average of $184.07 and a 200-day simple moving average of $179.81. The firm has a market capitalization of $18.05 billion, a P/E ratio of 22.27 and a beta of 0.90.

Insider Activity

In related news, EVP Thomas C. Indelicarto sold 1,228 shares of the business's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $190.00, for a total transaction of $233,320.00. Following the completion of the transaction, the executive vice president now directly owns 33,593 shares of the company's stock, valued at $6,382,670. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other VeriSign news, EVP Thomas C. Indelicarto sold 1,228 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $190.00, for a total transaction of $233,320.00. Following the completion of the transaction, the executive vice president now owns 33,593 shares in the company, valued at $6,382,670. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thomas C. Indelicarto sold 2,456 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $190.00, for a total transaction of $466,640.00. Following the completion of the sale, the executive vice president now directly owns 34,821 shares in the company, valued at approximately $6,615,990. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,368 shares of company stock worth $1,399,920. Corporate insiders own 0.84% of the company's stock.

Analyst Ratings Changes

Separately, Robert W. Baird reissued a "neutral" rating and set a $200.00 target price on shares of VeriSign in a research note on Thursday, June 27th.

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.