VeriSign (NASDAQ:VRSN) Raised to “Strong-Buy” at Zacks Research

VeriSign (NASDAQ:VRSN) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of VeriSign from $308.00 to $316.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of VeriSign in a report on Wednesday, June 24th. Wedbush increased their target price on VeriSign from $318.00 to $324.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Citigroup raised their target price on VeriSign from $295.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Finally, Robert W. Baird upped their price target on shares of VeriSign from $305.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, VeriSign currently has an average rating of “Buy” and a consensus price target of $328.75.

VeriSign Stock Up 2.3%

Shares of NASDAQ VRSN opened at $281.15 on Monday. The firm’s 50-day moving average price is $275.50 and its 200-day moving average price is $259.86. VeriSign has a 52-week low of $208.86 and a 52-week high of $312.48. The company has a market cap of $25.39 billion, a PE ratio of 30.49 and a beta of 0.71.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, July 23rd. The information services provider reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.02. VeriSign had a net margin of 49.76% and a negative return on equity of 39.20%. The firm had revenue of $434.60 million during the quarter, compared to analysts’ expectations of $433.19 million. During the same period in the previous year, the company earned $2.21 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts anticipate that VeriSign will post 9.56 EPS for the current fiscal year.

Insider Activity

In other VeriSign news, CEO D James Bidzos sold 3,300 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $297.47, for a total transaction of $981,651.00. Following the sale, the chief executive officer owned 439,339 shares in the company, valued at approximately $130,690,172.33. This trade represents a 0.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas C. Indelicarto sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $283.54, for a total transaction of $141,770.00. Following the completion of the transaction, the executive vice president owned 36,551 shares of the company’s stock, valued at approximately $10,363,670.54. The trade was a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 25,100 shares of company stock worth $6,803,294 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Perpetual Ltd lifted its holdings in VeriSign by 159.6% in the 4th quarter. Perpetual Ltd now owns 9,150 shares of the information services provider’s stock worth $2,223,000 after purchasing an additional 5,626 shares in the last quarter. KLP Kapitalforvaltning AS boosted its stake in VeriSign by 17.7% in the 4th quarter. KLP Kapitalforvaltning AS now owns 146,100 shares of the information services provider’s stock worth $35,495,000 after purchasing an additional 22,020 shares during the period. Danske Bank A S grew its holdings in VeriSign by 23.5% during the 4th quarter. Danske Bank A S now owns 64,246 shares of the information services provider’s stock valued at $15,609,000 after buying an additional 12,220 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in VeriSign by 29.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 49,688 shares of the information services provider’s stock valued at $12,179,000 after buying an additional 11,249 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of VeriSign by 2.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 174,140 shares of the information services provider’s stock valued at $41,886,000 after buying an additional 3,691 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

More VeriSign News

Here are the key news stories impacting VeriSign this week:

• Positive Sentiment: Zacks upgraded VeriSign to a No. 1 “Strong Buy” rating, citing improving earnings prospects and continued optimism around the company’s outlook. The upgrade is the clearest near-term catalyst for the shares. VeriSign Upgraded to Strong Buy
• Positive Sentiment: Recent quarterly results provide fundamental support: VeriSign reported $2.38 in earnings per share versus the $2.36 consensus estimate, while revenue rose 6% year over year to $434.6 million. Analysts project approximately $9.56 in full-year EPS.
• Positive Sentiment: Analyst targets remain above the current share price. The reported consensus target is $328.75, with recent targets ranging from $316 to $355 and ratings including “buy” and “outperform.”
• Positive Sentiment: VeriSign’s quarterly dividend of $0.81 per share, or $3.24 annualized, represents a yield of roughly 1.2% and adds to the stock’s shareholder-return appeal.
• Neutral Sentiment: VeriSign shares declined in the prior session but outperformed several competing stocks, suggesting relative resilience despite broader or sector-specific selling pressure. VeriSign Outperforms Competitors
• Negative Sentiment: CEO D. James Bidzos sold 3,300 shares for approximately $892,452, and EVP Thomas Indelicarto sold 500 shares for $140,000. Both transactions were conducted under pre-arranged Rule 10b5-1 plans, and the sales represented less than 1.4% of each executive’s holdings, reducing—but not eliminating—their negative signal.

VeriSign Company Profile

VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.