VeriSign (VRSN) Stock Moves -0.57%: What You Should Know
VeriSign (VRSN) closed the most recent trading day at $213.04, moving -0.57% from the previous trading session. This change was narrower than the S&P 500's 1.34% loss on the day. Meanwhile, the Dow experienced a drop of 0.98%, and the technology-dominated Nasdaq saw a decrease of 1.62%.
Shares of the internet infrastructure services provider witnessed a gain of 6.92% over the previous month, beating the performance of the Computer and Technology sector with its loss of 0.34% and the S&P 500's loss of 1.57%.
Analysts and investors alike will be keeping a close eye on the performance of VeriSign in its upcoming earnings disclosure. The company's earnings report is set to go public on October 26, 2023. The company's upcoming EPS is projected at $1.74, signifying a 10.13% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $373.79 million, showing a 4.73% escalation compared to the year-ago quarter.
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.
Investors should also note any recent changes to analyst estimates for VeriSign. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. VeriSign currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, VeriSign is currently exchanging hands at a Forward P/E ratio of 30.52. For comparison, its industry has an average Forward P/E of 24.38, 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 has a Zacks Industry Rank of 67, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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VeriSign, Inc. (VRSN) : Free Stock Analysis Report
