VeriSign Reaches New 52-Week High (VRSN)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- VeriSign (Nasdaq: VRSN) hit a new 52-week high Wednesday as it is currently trading at $49.43, above its previous 52-week high of $49.40 with 718,632 shares traded as of 2:50 p.m. ET. Average volume has been 2.1 million shares over the past 30 days.

VeriSign has a market cap of $7.63 billion and is part of the technology sector and computer software & services industry. Shares are up 36.6% year to date as of the close of trading on Tuesday.

VeriSign, Inc. provides Internet infrastructure services to various networks worldwide. It offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, and .name domain names, as well as the back-end systems for various for all .gov, .jobs, and .edu domain names. The company has a P/E ratio of 33.7, above the average computer software & services industry P/E ratio of 31.9 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates VeriSign as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, increase in net income, revenue growth and expanding profit margins. 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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