VeriSign Reaches New 52-Week High (VRSN)

NEW YORK ( TheStreet) -- VeriSign (Nasdaq: VRSN) hit a new 52-week high Wednesday as it is currently trading at $39.45, above its previous 52-week high of $39.17 with 652,780 shares traded as of 10:20 a.m. ET. Average volume has been 1.7 million shares over the past 30 days.

VeriSign has a market cap of $6.22 billion and is part of the technology sector and computer software & services industry. Shares are up 9.2% year to date as of the close of trading on Tuesday.

VeriSign, Inc. provides Internet infrastructure services to various networks worldwide. The company has a P/E ratio of 46.9, above the average computer software & services industry P/E ratio of 45.3 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates VeriSign as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, increase in net income, revenue growth and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full VeriSign Ratings Report.

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