VeriSign (VRSN) to Release Earnings on Thursday

VeriSign (NASDAQ:VRSN) will be announcing its earnings results after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.84 per share for the quarter. VeriSign has set its FY 2024 guidance at EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, February 8th. The information services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.09. The firm had revenue of $380.40 million during the quarter, compared to analysts’ expectations of $381.01 million. VeriSign had a negative return on equity of 46.56% and a net margin of 54.74%. On average, analysts expect VeriSign to post $8 EPS for the current fiscal year and $8 EPS for the next fiscal year.

VeriSign Stock Down 0.6 %

NASDAQ VRSN opened at $181.57 on Thursday. The stock has a market cap of $18.18 billion, a PE ratio of 22.93 and a beta of 0.88. VeriSign has a fifty-two week low of $181.57 and a fifty-two week high of $229.72. The business has a 50 day moving average price of $191.22 and a two-hundred day moving average price of $201.06.

Insider Activity

In other news, EVP Thomas C. Indelicarto sold 613 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $199.05, for a total transaction of $122,017.65. Following the completion of the transaction, the executive vice president now directly owns 34,816 shares in the company, valued at approximately $6,930,124.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Todd B. Strubbe sold 9,423 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $193.21, for a total transaction of $1,820,617.83. Following the sale, the chief operating officer now directly owns 111,551 shares of the company’s stock, valued at approximately $21,552,768.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas C. Indelicarto sold 613 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $199.05, for a total value of $122,017.65. Following the sale, the executive vice president now directly owns 34,816 shares in the company, valued at $6,930,124.80. The disclosure for this sale can be found here. In the last three months, insiders sold 14,877 shares of company stock worth $2,878,864. 0.94% of the stock is currently owned by insiders.

Institutional Investors Weigh In On VeriSign

Several institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc increased its position in VeriSign by 0.4% in the first quarter. CIBC Asset Management Inc now owns 13,943 shares of the information services provider’s stock worth $2,947,000 after buying an additional 56 shares during the period. IHT Wealth Management LLC increased its position in VeriSign by 7.7% in the second quarter. IHT Wealth Management LLC now owns 1,051 shares of the information services provider’s stock worth $237,000 after buying an additional 75 shares during the period. Neuberger Berman Group LLC increased its position in VeriSign by 1.2% in the fourth quarter. Neuberger Berman Group LLC now owns 6,187 shares of the information services provider’s stock worth $1,271,000 after buying an additional 75 shares during the period. Clear Street Markets LLC increased its position in VeriSign by 94.6% in the first quarter. Clear Street Markets LLC now owns 181 shares of the information services provider’s stock worth $38,000 after buying an additional 88 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its position in VeriSign by 2.7% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 3,345 shares of the information services provider’s stock worth $581,000 after buying an additional 89 shares during the period. 92.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on VRSN. StockNews.com cut VeriSign from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Citigroup decreased their price target on VeriSign from $237.00 to $236.00 and set a “buy” rating for the company in a report on Tuesday, April 2nd.

About VeriSign

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.