VeriSign (VRSN) Stock Moves -0.17%: What You Should Know
VeriSign (VRSN) closed the latest trading day at $201.21, indicating a -0.17% change from the previous session's end. This move was narrower than the S&P 500's daily loss of 0.8%. Elsewhere, the Dow saw a downswing of 0.76%, while the tech-heavy Nasdaq depreciated by 1.18%.
Prior to today's trading, shares of the internet infrastructure services provider had lost 7.19% over the past month. This has lagged the Computer and Technology sector's gain of 2.11% and the S&P 500's gain of 3.4% in that time.
The upcoming earnings release of VeriSign will be of great interest to investors. The company's earnings report is expected on February 8, 2024. The company's earnings per share (EPS) are projected to be $1.83, reflecting a 7.65% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $381.01 million, indicating a 3.2% increase compared to the same quarter of the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for VeriSign. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. VeriSign presently features a Zacks Rank of #2 (Buy).
In terms of valuation, VeriSign is currently trading at a Forward P/E ratio of 25.77. This represents a premium compared to its industry's average Forward P/E of 20.21.
The Internet - Software and Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 53, this industry ranks in the top 22% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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VeriSign, Inc. (VRSN) : Free Stock Analysis Report
