Analysts forecast that Verisign, Inc. (NASDAQ:VRSN) will announce sales of $302.44 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Verisign’s earnings, with estimates ranging from $301.26 million to $303.63 million. Verisign reported sales of $299.29 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.1%. The firm is scheduled to issue its next quarterly earnings results on Thursday, April 25th.

According to Zacks, analysts expect that Verisign will report full-year sales of $1.23 billion for the current fiscal year. For the next financial year, analysts forecast that the company will report sales of $1.28 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Verisign.

Verisign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, February 7th. The information services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.37. The firm had revenue of $307.45 million during the quarter, compared to analyst estimates of $308.64 million. Verisign had a negative return on equity of 42.50% and a net margin of 47.94%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the company posted $0.96 EPS.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Verisign from a “hold” rating to a “buy” rating and set a $164.00 price objective for the company in a research note on Monday, December 31st. BidaskClub raised Verisign from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Citigroup reaffirmed a “neutral” rating and issued a $195.00 target price (up previously from $175.00) on shares of Verisign in a research report on Tuesday, March 5th. Finally, ValuEngine raised Verisign from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 12th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $175.00.

In related news, Director Timothy Tomlinson sold 580 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $175.12, for a total transaction of $101,569.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.35% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. DNB Asset Management AS raised its holdings in shares of Verisign by 72.5% during the fourth quarter. DNB Asset Management AS now owns 21,421 shares of the information services provider’s stock worth $3,177,000 after acquiring an additional 9,000 shares in the last quarter. TrimTabs Asset Management LLC bought a new position in Verisign during the fourth quarter valued at about $1,618,000. BlackRock Inc. raised its holdings in Verisign by 2.5% during the fourth quarter. BlackRock Inc. now owns 8,848,684 shares of the information services provider’s stock valued at $1,312,172,000 after buying an additional 215,361 shares in the last quarter. Signet Investment Advisory Group Inc. bought a new position in Verisign during the fourth quarter valued at about $44,000. Finally, Man Group plc raised its holdings in Verisign by 16.5% during the third quarter. Man Group plc now owns 594,466 shares of the information services provider’s stock valued at $95,185,000 after buying an additional 84,330 shares in the last quarter. Institutional investors and hedge funds own 93.17% of the company’s stock.

NASDAQ VRSN traded up $0.19 on Tuesday, reaching $181.62. 1,226,009 shares of the stock traded hands, compared to its average volume of 628,674. The firm has a market cap of $21.72 billion, a P/E ratio of 38.24 and a beta of 1.08. Verisign has a 12 month low of $114.01 and a 12 month high of $183.43.

About Verisign

VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.

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