VeriSign Stock Rides An 8-Day Winning Streak To An 8.5% Gain
Shares of VeriSign (VRSN) have closed higher in each of the last 8 sessions, a cumulative gain of 8.5%. That added about $2.2 billion to the company’s market value, which now stands at about $27.6 billion. The stock closed at $303.74 on Friday, October 9, 1.7% below its 52-week high of $309.09 and 44.4% above its low of $210.31.
VRSN Versus The S&P 500
Returns for VRSN and the S&P 500 over the streak and the periods around it, all ending Friday, October 9 and including dividends:
| Return Period | VRSN | S&P 500 |
|---|---|---|
| 1 Day | 2.0% | 0.6% |
| 8 Days (Current Streak) | 8.5% | 1.9% |
| 1 Month (21 Trading Days) | 5.2% | 3.0% |
| 3 Months (63 Trading Days) | 12.7% | 4.2% |
| Year To Date | 26.2% | 15.1% |
| 1 Year (252 Trading Days) | 14.8% | 17.0% |
Is This Move About VeriSign Or The Market?
The market explains little of this: the S&P 500 gained 1.9% over the same 8 sessions, including dividends, against VeriSign’s +8.5%. No other S&P 500 stock is currently on a winning streak of 8 days or longer. Over the past three months the stock is up 12.7%, a window that includes the streak; over the other 55 sessions of that window it was up 3.8%.
Is The Business Keeping Up With The Stock?
On the fundamentals, revenue grew 6.9% over the last twelve months, against a median of 17.9% for S&P 500 Information Technology stocks; its operating margin is 67.9%, versus a median of 21.6%; and the stock trades at 32.4 times trailing earnings against a median of 37.5. The read is mixed: margins above the median and a multiple below the median on one side, revenue growth below the median on the other.
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