The stock of VeriSign, Inc. (NASDAQ:VRSN) is now priced at $201 and the shares are -8.99 points down or -4.28% lower compared to its previous closing price of $209.99. The stock had 690231 contracts set over the past session. VRSN shares’ daily volume is compared to its average trading volume at 650596 shares. However, it has a float of 114 million and although its performance was -5.28% over the week, it’s one to watch. Analysts have given the VRSN stock a yearly average price target of $243.67 per share. It means the stock’s upside potential is 21.23% with the VRSN share price recently placing at $200.7 to $211.19. However, some brokerage firms have priced the stock below the average, including one that has called $235.
The shorts are climbing into the VeriSign, Inc. stock, with the latest data on short interest released on June 30, 2020, showing that short interest numbers in the VRSN shares have risen. Short interest in the stock represents just 1.5% of its float, but the volume has raised by 76043. The volume of shorted shares rised to 1.711 million from 1.635 million shares over the last two weeks. The average intraday trading volume has been 605018 shares, which means that days to cover moved to roughly 2.828721.
In the last trading session, VeriSign, Inc. (NASDAQ:VRSN) dropped by -$11.2 over the week and lost -$3.17 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $221.78. The stock recorded its established 52-week high on 07/15/19.
Since 03/23/20, the stock has traded to a low of $148.77 at 35.11%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.89. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, VeriSign, Inc.’s two-week RSI is 38.18. This suggests that the stock is neutral at the moment and that VRSN shares’ price movement remains stable. The stochastic readings are equally revealing at 53.28% meaning the VRSN share price is currently in neutral territory.
The technical chart shows that the VRSN stock will likely settle at between $207.89 and $214.79 per share. However, if the stock dips below $197.4, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $193.81.
Currently, the stock is trading in the red of MACD, with a reading of -1.69. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned VRSN a rating of Neutral in their resuming review released on March 05. Robert W. Baird analysts upgraded their recommendation of the stock from Neutral to Outperform in a flash note released to investors on November 02. JP Morgan seeing the improvements upgraded the stock from Underweight to Neutral on November 02.
The average rating for the VRSN equity is 2.33 and is currently gathering a bullish momentum. Of 3 analysts tracking VeriSign, Inc. polled by Reuters, 2 rated VRSN as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the VRSN stock price is 33.4X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 31.5below the group’s average of 36.8. VeriSign, Inc. has its P/E ratio at 0, which means that the stock is currently trading at a discount relative to the 13 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for VeriSign, Inc. (NASDAQ:VRSN) will decrease by about -99.9%, which will see them reach $312.65 million. The company’s full-year revenues are, however, expected to increase by about 2.44%, up from $1230 million to $1260 million. VRSN’s expected adjusted earnings should drop almost -0.75% to end up at $1.32 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 5.08% to record $5.58/share.