Wall Street analysts expect Verisign, Inc. (NASDAQ:VRSN) to post $305.25 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Verisign’s earnings, with the highest sales estimate coming in at $306.28 million and the lowest estimate coming in at $304.23 million. Verisign reported sales of $292.43 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.4%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Thursday, October 25th.

On average, analysts expect that Verisign will report full year sales of $1.22 billion for the current year, with estimates ranging from $1.21 billion to $1.22 billion. For the next financial year, analysts forecast that the company will post sales of $1.28 billion, with estimates ranging from $1.28 billion to $1.29 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Verisign.

Verisign (NASDAQ:VRSN) last announced its earnings results on Thursday, July 26th. The information services provider reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.04. Verisign had a negative return on equity of 37.20% and a net margin of 40.38%. The business had revenue of $302.40 million for the quarter, compared to analysts’ expectations of $302.47 million. During the same period in the prior year, the business posted $1.05 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis.

Several analysts recently commented on VRSN shares. JPMorgan Chase & Co. upped their target price on Verisign from $123.00 to $125.00 and gave the company an “average” rating in a report on Monday, September 24th. BidaskClub upgraded Verisign from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 30th. Robert W. Baird reiterated a “hold” rating and issued a $160.00 target price on shares of Verisign in a report on Friday, July 27th. Finally, Cowen reiterated a “hold” rating and issued a $155.00 target price on shares of Verisign in a report on Friday, July 27th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $139.00.

A number of hedge funds have recently made changes to their positions in the stock. CIBC Asset Management Inc lifted its stake in Verisign by 2.5% in the second quarter. CIBC Asset Management Inc now owns 13,209 shares of the information services provider’s stock valued at $1,815,000 after buying an additional 328 shares during the period. Liberty Mutual Group Asset Management Inc. lifted its stake in Verisign by 12.1% in the second quarter. Liberty Mutual Group Asset Management Inc. now owns 3,838 shares of the information services provider’s stock valued at $527,000 after buying an additional 413 shares during the period. Fiera Capital Corp lifted its stake in Verisign by 15.5% in the first quarter. Fiera Capital Corp now owns 3,172 shares of the information services provider’s stock valued at $376,000 after buying an additional 425 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Verisign by 1.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,820 shares of the information services provider’s stock valued at $5,472,000 after buying an additional 429 shares during the period. Finally, Eqis Capital Management Inc. lifted its stake in Verisign by 8.0% in the second quarter. Eqis Capital Management Inc. now owns 5,827 shares of the information services provider’s stock valued at $801,000 after buying an additional 430 shares during the period. Institutional investors and hedge funds own 93.30% of the company’s stock.

VRSN stock traded up $4.86 during trading on Friday, hitting $143.98. The company had a trading volume of 713,249 shares, compared to its average volume of 940,337. Verisign has a one year low of $105.40 and a one year high of $164.19. The stock has a market capitalization of $19.52 billion, a PE ratio of 39.13 and a beta of 0.89. The company has a debt-to-equity ratio of -1.29, a current ratio of 1.33 and a quick ratio of 1.33.

Verisign Company Profile

VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.

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