J.P. Morgan Sticks to Its Hold Rating for Verisign (VRSN)
In a report released yesterday, Alexei Gogolev from J.P. Morgan maintained a Hold rating on Verisign, with a price target of $308.00. The company’s shares closed yesterday at $247.69.
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Gogolev covers the Technology sector, focusing on stocks such as Verisign, Wix, and GoDaddy. According to TipRanks, Gogolev has an average return of 4.1% and a 47.35% success rate on recommended stocks.
Verisign has an analyst consensus of Moderate Buy, with a price target consensus of $327.67.
Based on Verisign’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $428.9 million and a net profit of $214.5 million. In comparison, last year the company earned a revenue of $402.3 million and had a net profit of $199.3 million
Based on the recent corporate insider activity of 100 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VRSN in relation to earlier this year. Earlier this month, James Bidzos, the Exec. Chairman, Pres, & CEO of VRSN sold 3,300.00 shares for a total of $904,921.00.
Read More on VRSN:
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- VeriSign price target raised to $308 from $285 at JPMorgan
- Verisign Stockholders Approve Amended Long-Term Incentive Plan
- Traws Pharma, United Rentals, Huntington, Sprouts, Verisign Insider Shake-Up
- VeriSign price target raised to $320 from $295 at Citi
- VeriSign price target raised to $278 from $273 at JPMorgan
