VeriSign (VRSN) Advances But Underperforms Market: Key Facts
VeriSign (VRSN) closed the latest trading day at $204.46, indicating a +0.09% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 1.03%. Elsewhere, the Dow gained 0.87%, while the tech-heavy Nasdaq added 1.26%.
Prior to today's trading, shares of the internet infrastructure services provider had lost 4.61% over the past month. This has lagged the Computer and Technology sector's gain of 2.42% and the S&P 500's gain of 3.01% in that time.
The investment community will be closely monitoring the performance of VeriSign in its forthcoming earnings report. The company is predicted to post an EPS of $1.83, indicating a 7.65% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $381.01 million, up 3.2% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $7.15 per share and revenue of $1.49 billion, which would represent changes of +14.58% and +4.83%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for VeriSign. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. VeriSign is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note VeriSign's current valuation metrics, including its Forward P/E ratio of 28.57. This represents a discount compared to its industry's average Forward P/E of 29.44.
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 11, finds itself in the top 5% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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VeriSign, Inc. (VRSN) : Free Stock Analysis Report
