In the latest trading session, VeriSign (VRSN) closed at $200.33, marking a -0.21% move from the previous day. This change was narrower than the S&P 500's 1.64% loss on the day. Meanwhile, the Dow lost 1.08%, and the Nasdaq, a tech-heavy index, lost 1.82%.
Coming into today, shares of the internet infrastructure services provider had lost 2.16% in the past month. In that same time, the Computer and Technology sector gained 1.8%, while the S&P 500 gained 0.89%.
Investors will be hoping for strength from VeriSign as it approaches its next earnings release. In that report, analysts expect VeriSign to post earnings of $1.74 per share. This would mark 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.
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 a result, we can interpret positive estimate revisions as a good sign for 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 sporting a Zacks Rank of #2 (Buy).
In terms of valuation, VeriSign is currently trading at a Forward P/E ratio of 28.6. This represents a premium compared to its industry's average Forward P/E of 22.98.
The Internet - Software and Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 70, putting it in the top 28% 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.
To follow VRSN in the coming trading sessions, be sure to utilize Zacks.com.
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