Domain name registry operator Verisign (NASDAQ:VRSN) will be reporting earnings tomorrow after market hours. Here's what investors should know.
Last quarter VeriSign reported revenues of $376.3 million, up 5.4% year on year, missing analyst expectations by 0.8%. It was a weak 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 2.3% year on year to $377.9 million, slowing down from the 8.5% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.86 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 four times over the last two years.
Looking at VeriSign's peers in the sales and marketing software segment, only Freshworks has so far reported results, delivering top-line growth of 20.2% year on year, and beating analyst estimates by 1%. Freshworks traded down 2.9% on the results.
Read the full analysis of Freshworks's results on StockStory. There has been positive sentiment among investors in the sales and marketing software segment, with the stocks up on average 4.1% over the last month. VeriSign is up 0.6% during the same time, and is heading into the earnings with analyst price target of $225.9, compared to share price of $198.7.
The author has no position in any of the stocks mentioned.