In the latest trading session, VeriSign (VRSN) closed at $200.72, marking a +0.15% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.22%. Elsewhere, the Dow lost 0.83%, while the tech-heavy Nasdaq lost 1.56%.
Prior to today's trading, shares of the internet infrastructure services provider had lost 0.35% over the past month. This has lagged the Computer and Technology sector's gain of 2.03% and the S&P 500's gain of 0.54% in that time.
Wall Street will be looking for positivity from VeriSign as it approaches its next earnings report date. The company is expected to report EPS of $1.74, up 10.13% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $373.79 million, up 4.73% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.02 per share and revenue of $1.49 billion. These totals would mark changes of +12.5% and +4.68%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for VeriSign. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. VeriSign is currently a Zacks Rank #2 (Buy).
Digging into valuation, VeriSign currently has a Forward P/E ratio of 28.55. Its industry sports an average Forward P/E of 22.56, so we one might conclude that VeriSign is trading at a premium comparatively.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 58, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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