VeriSign (NASDAQ:VRSN) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

VeriSign (NASDAQ:VRSN) issued its earnings results on Thursday. The information services provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.06, Briefing.com reports. The firm had revenue of $390.60 million for the quarter, compared to the consensus estimate of $390.19 million. VeriSign had a net margin of 55.40% and a negative return on equity of 46.63%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.83 earnings per share. VeriSign updated its FY 2024 guidance to EPS.

VeriSign Price Performance

VeriSign stock traded up $1.38 during midday trading on Friday, reaching $186.50. 283,890 shares of the company traded hands, compared to its average volume of 658,442. The firm has a market capitalization of $18.58 billion, a price-to-earnings ratio of 22.74 and a beta of 0.90. The business has a 50 day moving average of $183.92 and a two-hundred day moving average of $179.78. VeriSign has a 12 month low of $167.04 and a 12 month high of $220.91.

Analyst Ratings Changes

Separately, Robert W. Baird reiterated a “neutral” rating and issued a $200.00 target price on shares of VeriSign in a research note on Thursday, June 27th.

Insider Activity at VeriSign

In related news, EVP Thomas C. Indelicarto sold 2,456 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $190.00, for a total transaction of $466,640.00. Following the transaction, the executive vice president now owns 34,821 shares in the company, valued at $6,615,990. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other VeriSign news, EVP Thomas C. Indelicarto sold 1,228 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $190.00, for a total transaction of $233,320.00. Following the completion of the sale, the executive vice president now directly owns 33,593 shares of the company’s stock, valued at approximately $6,382,670. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas C. Indelicarto sold 2,456 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $190.00, for a total transaction of $466,640.00. Following the sale, the executive vice president now directly owns 34,821 shares of the company’s stock, valued at approximately $6,615,990. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,368 shares of company stock worth $1,399,920 over the last quarter. Company insiders own 0.84% of the company’s stock.

VeriSign Company Profile

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.