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Domain name registry operator Verisign (NASDAQ:VRSN) will be reporting earnings tomorrow afternoon. Here’s what you need to know.
Last quarter VeriSign reported revenues of $372 million, up 5.71% year on year, missing analyst expectations by 0.29%. It was a weaker quarter for the company, with a miss of analysts’ revenue estimates.
Is VeriSign buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting VeriSign’s revenue to grow 6.24% year on year to $379.2 million, in line with the 6.76% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.80 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St’s revenue estimates three times over the last two years.
With VeriSign being the first among its peers to report earnings this season, we don’t have anywhere else to look at to get a hint at how this quarter will unravel for sales and marketing software stocks, but investors in the segment have had steady hands going into the earnings, with the stocks down on average 0.39% over the last month. VeriSign is up 3.1% during the same time, and is heading into the earnings with analyst price target of $229.5, compared to share price of $206.5.
The author has no position in any of the stocks mentioned.
