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VeriSign Reported Mixed Quarterly Results in 3Q15

US Equity Market Updates for October 22

(Continued from Prior Part)

VeriSign’s price movement

VeriSign (VRSN) has a market cap of $8.6 billion. VeriSign’s YTD (year-to-date) price movement has been going up quarter-over-quarter in 2015. After the 3Q15 earnings results, which reported an 1.2% increase in net revenue, VRSN rose by 1.3% to close at $75.41 per share as of October 22, 2015. The price movement on a weekly, monthly, and YTD basis is 1.0%, 7.4%, and 32.3%, respectively.

The stock has broken the support of 20-day and 50-day moving averages throughout 2015. Currently, it’s trading 3.2% above its 20-day moving average, 6.6% above its 50-day moving average, and 15.3% above its 200-day moving average.

The SPDR MFS Systematic Growth Equity ETF (SYG) invests 3.7% of its holdings in VeriSign. The ETF holds large-cap US stocks that the manager, Massachusetts Financial Services, believes have high growth potential, based on fundamental and quantitative analysis. The YTD price movement of SYG is 6.3% as of October 21, 2015. The PowerShares DWA Technology Momentum Portfolio (PTF) invests 2.1% of its holdings in VeriSign.

The market caps of VeriSign’s competitors are as follows:

  • Verizon Communications (VZ) — $186.6 billion

  • Akamai Technologies (AKAM) — $13.0 billion

  • Godaddy (GDDY) — $4.3 billion

  • Neustar (NSR) — $1.5 billion

Performance of VeriSign in 3Q15

The company reported net revenue of $265.8 million in 3Q15, an increase of 1.2% when compared to net revenue of $262.6 million in 2Q15. The cost of revenue as a percentage of revenue has decreased by 5.6% in 3Q15. The net income has decreased to $92.5 million in 3Q15, a fall of 0.59% on a quarterly basis. The EPS (earnings per share) remains the same at $0.70 per share in 2Q15 and 3Q15. The cash and cash equivalents have fallen by 5.0%, and investment in marketable securities have increased by 0.91% in 3Q15. The current ratio has decreased by 1.0%, and total debt has increased by 1.2% in 3Q15.

About VeriSign

VeriSign provides Internet infrastructure, including .com and .net domains. The company also provides protection for websites and enterprises around the world.

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