Domain name registry operator Verisign (NASDAQ:VRSN) will be reporting earnings tomorrow after market close. Here's what investors should know.
Last quarter VeriSign reported revenues of $369.2 million, up 8.49% year on year, in line with analyst expectations. It was a weaker quarter for the company, with slow revenue growth.
Is VeriSign buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting VeriSign's revenue to grow 5.89% year on year to $367.3 million, slowing down from the 7.2% year-over-year increase in revenue the company had recorded in the same quarter last year.
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 twice 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 software stocks, but investors in the segment have had steady hands going into the earnings, with the stocks down on average 1.45% over the last month. VeriSign is up 5.08% during the same time, and is heading into the earnings with analyst price target of $245.5, compared to share price of $214.48.
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The author has no position in any of the stocks mentioned.