In the latest trading session, VeriSign (VRSN) closed at $206.28, marking a +0.26% move from the previous day. This change outpaced the S&P 500’s 0.04% gain on the day. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq lost 0.03%.
Prior to today’s trading, shares of the internet infrastructure services provider had lost 2.81% over the past month. This has lagged the Computer and Technology sector’s gain of 4.9% and the S&P 500’s gain of 5.28% in that time.
The investment community will be closely monitoring the performance of VeriSign in its forthcoming earnings report. On that day, VeriSign is projected to report earnings of $1.83 per share, which would represent year-over-year growth of 7.65%. In the meantime, our current consensus estimate forecasts the revenue to be $381.01 million, indicating a 3.2% growth compared to the corresponding quarter of the prior year.
VRSN’s full-year Zacks Consensus Estimates are calling for earnings of $7.15 per share and revenue of $1.49 billion. These results would represent year-over-year changes of +14.58% and +4.83%, respectively.
It’s also important for investors to be aware of any recent modifications to analyst estimates for VeriSign. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we’ve established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, VeriSign boasts a Zacks Rank of #2 (Buy).
In terms of valuation, VeriSign is currently trading at a Forward P/E ratio of 28.78. Its industry sports an average Forward P/E of 29.96, so one might conclude that VeriSign is trading at a discount comparatively.
The Internet – Software and Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 15, placing it within the top 6% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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