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

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

VeriSign Stock Down 0.5 %

VRSN stock traded down $0.93 during midday trading on Friday, hitting $184.19. 379,379 shares of the company traded hands, compared to its average volume of 658,904. VeriSign has a twelve month low of $167.04 and a twelve month high of $220.91. The stock has a market capitalization of $18.35 billion, a price-to-earnings ratio of 22.74 and a beta of 0.90. The business has a 50 day simple moving average of $183.92 and a 200-day simple moving average of $179.78.

Insider Transactions at VeriSign

In related news, EVP Thomas C. Indelicarto sold 1,228 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $190.00, for a total value of $233,320.00. Following the transaction, the executive vice president now directly owns 33,593 shares in the company, valued at approximately $6,382,670. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other VeriSign news, EVP Thomas C. Indelicarto sold 3,684 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $190.00, for a total value of $699,960.00. Following the sale, the executive vice president now directly owns 37,774 shares in the company, valued at $7,177,060. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas C. Indelicarto sold 1,228 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $190.00, for a total transaction of $233,320.00. Following the transaction, the executive vice president now directly owns 33,593 shares of the company’s stock, valued at $6,382,670. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,368 shares of company stock worth $1,399,920. 0.84% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.