Domain name registry operator Verisign (NASDAQ:VRSN) will be reporting results tomorrow afternoon. Here's what to expect.
Last quarter VeriSign reported revenues of $380.4 million, up 3% year on year, in line with analyst expectations. It was a decent quarter for the company, with revenue and EPS coming in ahead of Wall Street's expectations.
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 4.8% year on year to $381.8 million, in line with the 5% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.87 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 the whole sector has been facing a sell-off since late last year, with stocks down on average 4.3% over the last month. VeriSign is down 0.9% during the same time, and is heading into the earnings with analyst price target of $222.9, compared to share price of $185.48.
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