VeriSign Inc. (NASDAQ:VRSN) Share Price Recovers 18.49% From Its Lows, But Can It Maintain Its Rise? – Marketing Sentinel
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VeriSign Inc. (NASDAQ:VRSN) Share Price Recovers 18.49% From Its Lows, But Can It Maintain Its Rise?

In last trading session, VeriSign Inc. (NASDAQ:VRSN) saw 0.88 million shares changing hands with its beta currently measuring 0.86. Company’s recent per share price level of $226.48 trading at -$3.38 or -1.47% at ring of the bell on the day assigns it a market valuation of $25.59B. That closing price of VRSN’s stock is at a discount of -13.49% from its 52-week high price of $257.03 and is indicating a premium of 18.49% from its 52-week low price of $184.60. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.51 million shares which gives us an average trading volume of 607.98K if we extend that period to 3-months.

For VeriSign Inc. (VRSN), analysts’ consensus is at an average recommendation of a Hold while assigning it a mean rating of 2.20. Splitting up the data highlights that, out of 4 analysts covering the stock, 0 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 1 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $1.41 in the current quarter.

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VeriSign Inc. (NASDAQ:VRSN) trade information

Upright in the red during last session for losing -1.47%, in the last five days VRSN remained trading in the red while hitting it’s week-highest on Thursday, 01/13/22 when the stock touched $226.48 price level, adding 5.38% to its value on the day. VeriSign Inc.’s shares saw a change of -10.77% in year-to-date performance and have moved -4.72% in past 5-day. VeriSign Inc. (NASDAQ:VRSN) showed a performance of -6.30% in past 30-days. Number of shares sold short was 1.52 million shares which calculate 2 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $259.00 to the stock, which implies a rise of 12.56% to its current value. Analysts have been projecting $258.00 as a low price target for the stock while placing it at a high target of $260.00. It follows that stock’s current price would drop -14.8% in reaching the projected high whereas dropping to the targeted low would mean a loss of -13.92% for stock’s current value.

VeriSign Inc. (VRSN) estimates and forecasts

Statistics highlight that VeriSign Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -0.91% of value to its shares in past 6 months, showing an annual growth rate of -23.20% while that of industry is 19.20. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 2.20% in the current quarter and calculating 11.30% increase in the next quarter. This year revenue growth is estimated to rise 4.90% from the last financial year’s standing.

2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $340.22 million for the same. And 2 analysts are in estimates of company making revenue of $342.77 million in the next quarter that will end on Mar 2022. Company posted $320.28 million and $323.45 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 6.20% while estimating it to be 6.00% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 20.20% during past 5 years. In 2022, company’s earnings growth rate is likely to be around -2.40% while estimates for its earnings growth in next 5 years are of 8.00%.

VRSN Dividends

VeriSign Inc. is more likely to be releasing its next quarterly report on February 10 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

VeriSign Inc. (NASDAQ:VRSN)’s Major holders

Insiders are in possession of 1.18% of company’s total shares while institution are holding 94.16 percent of that, with stock having share float percentage of 95.29%. Investors also watch the number of corporate investors in a company very closely, which is 94.16% institutions for VeriSign Inc. that are currently holding shares of the company. Berkshire Hathaway, Inc is the top institutional holder at VRSN for having 12.82 million shares of worth $2.63 billion. And as of Sep 29, 2021, it was holding 11.54% of the company’s outstanding shares.

The second largest institutional holder is Vanguard Group, Inc. (The), which was holding about 10.4 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 9.37% of outstanding shares, having a total worth of $2.13 billion.

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On the other hand, Vanguard Total Stock Market Index Fund and American Balanced Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2021, the former fund manager was holding 2.68 million shares of worth $550.36 million or 2.42% of the total outstanding shares. The later fund manager was in possession of 2.2 million shares on Sep 29, 2021, making its stake of worth around $451.02 million in the company or a holder of 1.98% of company’s stock.

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