New Deal: Verisign, Inc. (NASDAQ:VRSN)’s current pricing per domain will continue throughout the term
Verisign, Inc. (NASDAQ:VRSN) lost more than 13% on Friday after its ability to lift prices was limited as part of its contract signed with the U.S. government to continue operating the registry. Pursuant to the new deal with the Department of Commerce, the operator of the .com domain name registry for the World Wide Web can play role as the registry operator for the next six years. But it does not hold the right to four automatic price hikes of up to 7%.
Its pricing per domain name registration will continue to remain at $7.85 throughout the term, although the agency could lift price limitations completely, if the company can demonstrate they are no longer warranted. S&P Capital downgraded Verisign from a rating of Buy to Hold after the renewed deal was disclosed.
With market capitalization of $5.30 billion, Verisign, Inc. (NASDAQ:VRSN) shares were trading within the range of $32.81-$34.75 while its opening price was $33.25. VRSN’s 5 years revenue rate remained -4.71% while its current ratio was 0.95. Its return on investment was 37.09%.
VRSN belongs to technology sector with industry of Application Software and its archrivals include CA, Inc. (CA) and Oracle Corporation (ORCL). Let’s have a look over opponents’ performance.
Oracle Corporation (NASDAQ:ORCL) surged 1.05% to $32.17 with the total traded volume of 26.61 million shares and CA, Inc. (NASDAQ:CA) moved up 0.18% to $22.16 with the total traded volume of 3.14 million shares.
VRSN is ahead of its 52 weeks low with 4.88% and lagging behind from its 52 weeks high price with -31.90%. VRSN’s last month’s stock price volatility remained 3.93%. The stock price of VRSN is moving down from its 20 days moving average with -16.36% and remote negatively from 50 days moving average with -23.68%.
VRSN’s current year earnings per share got a lift of 121.29% while its current quarter performance stayed at -28.00%. Company’s beta coefficient included 0.85. Beta factor calculates the amount of market risk linked with market trade.