VeriSign (VRSN) Ascends While Market Falls: Some Facts to Note
VeriSign (VRSN) closed the most recent trading day at $203.11, moving +0.03% from the previous trading session. This change outpaced the S&P 500's 0.07% loss on the day. On the other hand, the Dow registered a gain of 0.16%, and the technology-centric Nasdaq decreased by 0.36%.
Prior to today's trading, shares of the internet infrastructure services provider had lost 1.57% over the past month. This has lagged the Computer and Technology sector's gain of 5.93% and the S&P 500's gain of 3.05% in that time.
The investment community will be paying close attention to the earnings performance of VeriSign in its upcoming release. The company is slated to reveal its earnings on February 8, 2024. In that report, analysts expect VeriSign to post earnings of $1.83 per share. This would mark year-over-year growth of 7.65%. Our most recent consensus estimate is calling for quarterly revenue of $381.01 million, up 3.2% from the year-ago period.
Any recent changes to analyst estimates for VeriSign should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. VeriSign is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note VeriSign's current valuation metrics, including its Forward P/E ratio of 25.96. For comparison, its industry has an average Forward P/E of 24.22, which means VeriSign is trading at a premium to the group.
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 111, finds itself in the top 45% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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VeriSign, Inc. (VRSN) : Free Stock Analysis Report
