VeriSign (NASDAQ:VRSN - Get Free Report) had its price objective raised by investment analysts at Robert W. Baird from $275.00 to $285.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the information services provider's stock. Robert W. Baird's target price suggests a potential upside of 3.19% from the stock's previous close.
VRSN has been the subject of several other research reports. Citigroup increased their target price on VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. StockNews.com upgraded VeriSign from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th.
Read Our Latest Stock Analysis on VeriSign
VeriSign Stock Performance
Shares of NASDAQ VRSN traded up $3.40 during mid-day trading on Friday, reaching $276.19. 1,123,892 shares of the company traded hands, compared to its average volume of 745,172. The stock has a market cap of $26.00 billion, a PE ratio of 34.52 and a beta of 0.87. The company's fifty day moving average is $243.21 and its two-hundred day moving average is $214.26. VeriSign has a fifty-two week low of $167.05 and a fifty-two week high of $279.46.
VeriSign (NASDAQ:VRSN - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.10 EPS for the quarter, meeting analysts' consensus estimates of $2.10. The business had revenue of $402.30 million for the quarter, compared to analyst estimates of $400.44 million. VeriSign had a negative return on equity of 43.01% and a net margin of 50.47%. The firm's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.92 EPS.
Insiders Place Their Bets
In other VeriSign news, SVP John Calys sold 447 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $231.75, for a total value of $103,592.25. Following the completion of the sale, the senior vice president now owns 23,735 shares in the company, valued at approximately $5,500,586.25. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company's stock.
Institutional Trading of VeriSign
A number of hedge funds have recently modified their holdings of VRSN. Crewe Advisors LLC bought a new stake in shares of VeriSign in the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC bought a new stake in shares of VeriSign in the 4th quarter worth approximately $26,000. Rakuten Securities Inc. lifted its position in shares of VeriSign by 13,000.0% in the 1st quarter. Rakuten Securities Inc. now owns 131 shares of the information services provider's stock worth $33,000 after acquiring an additional 130 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of VeriSign by 127.2% in the 4th quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider's stock worth $38,000 after buying an additional 103 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of VeriSign by 106.5% in the 1st quarter. UMB Bank n.a. now owns 159 shares of the information services provider's stock worth $40,000 after buying an additional 82 shares in the last quarter. Institutional investors own 92.90% of the company's stock.
About VeriSign
(
Get Free Report)
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.
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