VeriSign (VRSN) Gains As Market Dips: What You Should Know
In the latest trading session, VeriSign (VRSN) closed at $207.75, marking a +1.06% move from the previous day. This change outpaced the S&P 500's 0.32% loss on the day. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, lost 0.89%.
Heading into today, shares of the internet infrastructure services provider had gained 0.47% over the past month, lagging the Computer and Technology sector's gain of 1.88% and outpacing the S&P 500's loss of 0.12% in that time.
VeriSign will be looking to display strength as it nears its next earnings release. On that day, VeriSign is projected to report earnings of $1.74 per share, which would represent year-over-year growth of 10.13%. Our most recent consensus estimate is calling for quarterly revenue of $373.79 million, up 4.73% from the year-ago period.
VRSN's full-year Zacks Consensus Estimates are calling for earnings of $7.02 per share and revenue of $1.49 billion. These results would represent year-over-year changes of +12.5% and +4.68%, respectively.
Any recent changes to analyst estimates for VeriSign should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.59% higher. VeriSign is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, VeriSign is holding a Forward P/E ratio of 29.28. Its industry sports an average Forward P/E of 22.71, 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 industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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VeriSign, Inc. (VRSN) : Free Stock Analysis Report
