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Here's Why VeriSign (VRSN) Fell More Than Broader Market
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The latest trading session saw VeriSign (VRSN - Free Report) ending at $202.44, denoting a -0.85% adjustment from its last day's close. This move lagged the S&P 500's daily loss of 0.37%. On the other hand, the Dow registered a loss of 0.62%, and the technology-centric Nasdaq decreased by 0.19%.
The internet infrastructure services provider's stock has dropped by 1% in the past month, falling short of the Computer and Technology sector's gain of 1.22% and the S&P 500's gain of 1.56%.
The investment community will be closely monitoring the performance of VeriSign in its forthcoming earnings report. The company is scheduled to release its earnings on February 8, 2024. The company's upcoming EPS is projected at $1.83, signifying a 7.65% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $381.01 million, indicating a 3.2% upward movement from the same quarter last year.
Investors might also notice recent changes to analyst estimates for VeriSign. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. VeriSign is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, VeriSign is currently being traded at a Forward P/E ratio of 26.11. This indicates a premium in contrast to its industry's Forward P/E of 22.86.
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Here's Why VeriSign (VRSN) Fell More Than Broader Market
The latest trading session saw VeriSign (VRSN - Free Report) ending at $202.44, denoting a -0.85% adjustment from its last day's close. This move lagged the S&P 500's daily loss of 0.37%. On the other hand, the Dow registered a loss of 0.62%, and the technology-centric Nasdaq decreased by 0.19%.
The internet infrastructure services provider's stock has dropped by 1% in the past month, falling short of the Computer and Technology sector's gain of 1.22% and the S&P 500's gain of 1.56%.
The investment community will be closely monitoring the performance of VeriSign in its forthcoming earnings report. The company is scheduled to release its earnings on February 8, 2024. The company's upcoming EPS is projected at $1.83, signifying a 7.65% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $381.01 million, indicating a 3.2% upward movement from the same quarter last year.
Investors might also notice recent changes to analyst estimates for VeriSign. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. VeriSign is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, VeriSign is currently being traded at a Forward P/E ratio of 26.11. This indicates a premium in contrast to its industry's Forward P/E of 22.86.
The Internet - Software and Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.