Verisign (NASDAQ:VRSN) had its target price hoisted by JPMorgan Chase & Co. from $123.00 to $125.00 in a research note issued on Monday, September 24th, The Fly reports. The brokerage presently has an average rating on the information services providers stock. JPMorgan Chase & Co.s target price indicates a potential downside of 19.46% from the stocks previous close.
VRSN has been the subject of several other reports. BidaskClub raised Verisign from a buy rating to a strong-buy rating in a report on Thursday, August 30th. Robert W. Baird restated a hold rating and set a $160.00 target price on shares of Verisign in a research report on Friday, July 27th. Finally, Cowen restated a hold rating and set a $155.00 target price on shares of Verisign in a research report on Friday, July 27th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $139.00.
VRSN opened at $155.21 on Monday. Verisign has a fifty-two week low of $105.40 and a fifty-two week high of $164.19. The company has a debt-to-equity ratio of -1.29, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $19.52 billion, a price-to-earnings ratio of 42.18 and a beta of 0.89.
Verisign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, July 26th. The information services provider reported $1.18 earnings per share for the quarter, topping the Zacks consensus estimate of $1.14 by $0.04. The firm had revenue of $302.40 million for the quarter, compared to the consensus estimate of $302.47 million. Verisign had a net margin of 40.38% and a negative return on equity of 37.20%. The businesss revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 earnings per share. On average, sell-side analysts anticipate that Verisign will post 4.31 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Braun Bostich & Associates Inc. boosted its position in Verisign by 1,283.3% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 913 shares of the information services providers stock worth $125,000 after acquiring an additional 847 shares during the last quarter. Sandy Spring Bank boosted its position in Verisign by 100.0% during the 2nd quarter. Sandy Spring Bank now owns 1,000 shares of the information services providers stock worth $137,000 after acquiring an additional 500 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in Verisign during the 2nd quarter worth approximately $149,000. Stillwater Investment Management LLC acquired a new position in Verisign during the 3rd quarter worth approximately $208,000. Finally, Rampart Investment Management Company LLC acquired a new position in Verisign during the 1st quarter worth approximately $161,000. 93.30% of the stock is owned by hedge funds and other institutional investors.
This article provided by NewsEdge.