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VeriSign, Inc. , headquartered in Reston, Virginia, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names. Valued at $18 billion by market cap, the company enables the security, stability, and resiliency of key internet infrastructure and services, as well as provides root zone maintainer services.
Shares of this global provider of critical internet infrastructure and domain name registry services have underperformed the broader market considerably over the past year. VRSN has declined 12.2% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 24.3%. In 2024, VRSN stock is down 11.6%, while SPX is up 17.2% on a YTD basis.
Narrowing the focus, VRSN has also lagged behind the iShares U.S. Technology ETF . The exchange-traded fund has gained about 32.9% over the past year. Moreover, the ETF’s 19% gains on a YTD basis outshine the stock’s losses over the same time frame.
On Jul. 25, VRSN shares closed up more than 1% after reporting its Q2 earnings results. Its EPS increased 12.3% year over year to $2.01. The company’s revenue stood at $387.1 million, up 4.1% year over year. Moreover, VRSN concluded the quarter with 170.6 million .com and .net domain name registrations in the domain name base, down 2.2% year over year, representing a net decrease of 1.8 million domain names.
Among the two analysts covering VRSN stock, the consensus is a “Moderate Buy.” That’s based on one “Strong Buy” rating and one “Hold.”
The configuration has been consistent over the past months.
On Jul. 26, Robert W. Baird analyst Robert Oliver reiterated a “Hold” rating on VRSN with a price target of $200, implying a potential upside of 9.9% from current levels.
The mean price target of $207.50 represents a 14% premium to VRSN’s current price levels. The Street-high price target of $215 suggests an upside potential of 18.1%
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
Making its debut on 06/29/2017, smart beta exchange traded fund WisdomTree U.S. Multifactor ETF provides investors broad exposure to the Style Box - All Cap Blend category of the market.
What Are Smart Beta ETFs?
For a long time now, the ETF industry has been flooded with products based on market capitalization weighted indexes, which are designed to represent the broader market or a particular market segment.
Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.
On the other hand, some investors who believe that it is possible to beat the market by superior stock selection opt to invest in another class of funds that track non-cap weighted strategies--popularly known as smart beta.
These indexes attempt to select stocks that have better chances of risk-return performance, based on certain fundamental characteristics or a combination of such characteristics.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
Fund Sponsor & Index
The fund is managed by Wisdomtree, and has been able to amass over $309 million, which makes it one of the average sized ETFs in the Style Box - All Cap Blend. This particular fund, before fees and expenses, seeks to match the performance of the WisdomTree U.S. Multifactor Index.
The WisdomTree U.S. Multifactor Index is comprised of 200 U.S. companies with the highest composite scores based on two fundamental factors, value and quality measures, and two technical factors, momentum and correlation.
Cost & Other Expenses
Expense ratios are an important factor in the return of an ETF and in the long-term, cheaper funds can significantly outperform their more expensive cousins, other things remaining the same.
With on par with most peer products in the space, this ETF has annual operating expenses of 0.28%.
It has a 12-month trailing dividend yield of 1.27%.
Sector Exposure and Top Holdings
While ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
Representing 30.80% of the portfolio, the fund has heaviest allocation to the Information Technology sector; Financials and Healthcare round out the top three.
When you look at individual holdings, Motorola Solutions Inc accounts for about 1.51% of the fund's total assets, followed by Roper Technologies Inc and Verisign Inc .
The top 10 holdings account for about 13.52% of total assets under management.
Performance and Risk
Year-to-date, the WisdomTree U.S. Multifactor ETF has gained about 13.23% so far, and is up about 23.39% over the last 12 months (as of 08/19/2024). USMF has traded between $36.99 and $47.33 in this past 52-week period.
The fund has a beta of 0.89 and standard deviation of 14.70% for the trailing three-year period. With about 201 holdings, it effectively diversifies company-specific risk.
Alternatives
WisdomTree U.S. Multifactor ETF is a reasonable option for investors seeking to outperform the Style Box - All Cap Blend segment of the market. However, there are other ETFs in the space which investors could consider.
IShares Core S&P Total U.S. Stock Market ETF tracks S&P Total Market Index and the Vanguard Total Stock Market ETF tracks CRSP US Total Market Index. IShares Core S&P Total U.S. Stock Market ETF has $59.42 billion in assets, Vanguard Total Stock Market ETF has $419.90 billion. ITOT has an expense ratio of 0.03% and VTI charges 0.03%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - All Cap Blend.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Zacks Investment Research
Reporter Name | Indelicarto Thomas C |
Relationship | EVP, Gen Counsel & Secretary |
Type | Sell |
Amount | $699,960 |
SEC Filing | Form 4 |
Thomas C Indelicarto, EVP, General Counsel & Secretary at VeriSign, sold 3,684 shares of Common Stock on July 29, 2024, at a price of $190.0 per share, totaling $699,960. Following this transaction, Indelicarto directly owns 37,774 shares of VeriSign.
SEC Filing: VERISIGN INC/CA [ VRSN ] - Form 4 - Jul. 30, 2024
After a turbulent week in the markets, the bulls reclaimed dominance on Wall Street during Friday’s session, with indices and sectors trading in positive territory as investors welcomed the latest corporate earnings results and further confirmation of inflation progressing toward the Fed’s 2% target.
In June, the Personal Consumption Expenditure price index – the Fed’s preferred measure of inflation – dropped to 2.5% year-on-year, as anticipated, marking the lowest level since February 2021. Tthe core component slightly exceeded expectations, remaining steady at 2.6% annually.
Investors are unwavering in their expectations for a Fed interest rate cut in September, assigning it a 100% probability and factoring in nearly three cumulative rate cuts by year-end.
The Dow Jones Industrial Average led the charge on Friday, with the blue-chip index surging 1.9%, setting the stage for its strongest session this year. The tech-heavy Nasdaq 100 rebounded significantly, climbing 1.6%, which halted the tech sector’s decline but wasn’t enough to reverse a negative weekly close.
The Russell 2000, as tracked by the iShares Russell 2000 ETF , also posted a solid gain of 1.3%.
Rate-sensitive sectors continued their rally, with homebuilders, as tracked by the SPDR Homebuilders ETF , rising over 3% for the day, reaching all-time highs and marking their third consecutive positive weekly close.
In the bond market, Treasuries rose as yields dipped slightly, especially in longer-dated maturities.
Gold also rallied, increasing by 1%, while oil prices dropped by 1%. Bitcoin rose 2.5%, marking its second consecutive positive session after three negative ones.
Friday’s Performance In Major US Indices, ETFs
Major Indices | Price | 1-day %chg |
Dow Jones | 40,712.07 | 1.9% |
S&P 500 | 5,483.84 | 1.6% |
Nasdaq 100 | 19,116.90 | 1.5% |
Russell 2000 | 2,252.38 | 1.3% |
According to Benzinga Pro data:
Friday’s Stock Movers
Stocks moving on earnings were:
Read Now:
Illustration via Shutterstock.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
VeriSign, Inc VRSN.OQ reported quarterly adjusted earnings of $2.01 per share for the quarter ended in January, higher than the same quarter last year, when the company reported EPS of $1.79. The mean expectation of two analysts for the quarter was for earnings of $1.93 per share. Wall Street expected results to range from $1.93 to $1.94 per share.
Revenue rose 4.1% to $387.10 million from a year ago; analysts expected $385.80 million.
VeriSign, Inc's reported EPS for the quarter was $2.01.
VeriSign, Inc shares had fallen by 1.6% this quarter and lost 15.0% so far this year.
FORECAST CHANGES
The mean earnings estimate of analysts had fallen by about 0.2% in the last three months.
In the last 30 days, one analyst negatively revised an earnings estimate
RECOMMENDATIONS
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell."
The average consensus recommendation for the it services & consulting peer group is also "buy"
Wall Street's median 12-month price target for VeriSign, Inc is $202.86
This summary was machine generated from LSEG data July 25 at 09:05 p.m. UTC. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)
QUARTER ENDING | ESTIMATE | ACTUAL | BEAT, MET, MISSED |
Jun. 30 2024 | 1.93 | 2.01 | Beat |
Mar. 31 2024 | 1.86 | 1.92 | Beat |
Dec. 31 2023 | 1.92 | ||
Sep. 30 2023 | 1.81 | 1.83 | Beat |
Keywords: VERISIGN-RESULTS/SUMMARY
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