VeriSign Inc. (VRSN): Today's Featured Technology Winner

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.

VeriSign ( VRSN) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day down 0.1%. By the end of trading, VeriSign rose 49 cents (1.1%) to $45.81 on average volume. Throughout the day, 3.4 million shares of VeriSign exchanged hands as compared to its average daily volume of 3.7 million shares. The stock ranged in a price between $45.19-$46.10 after having opened the day at $45.35 as compared to the previous trading day's close of $45.32. Other companies within the Technology sector that increased today were: Wireless Ronin Technologies ( RNIN), up 108.8%, Plug Power ( PLUG), up 30.4%, Deltathree ( DDDC), up 30%, and Faro Technologies ( FARO), up 17.6%.
  • EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.

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. VeriSign has a market cap of $6.95 billion and is part of the computer software & services industry. The company has a P/E ratio of 22.7, above the S&P 500 P/E ratio of 17.7. Shares are up 15.4% year to date as of the close of trading on Wednesday. Currently there are two analysts that rate VeriSign a buy, one analyst rates it a sell, and eight rate it a hold.

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, compelling growth in net income, revenue growth and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

On the negative front, BroadSoft ( BSFT), down 32.1%, Procera Networks ( PKT), down 30.4%, Groupon ( GRPN), down 24.3%, and Suntech Power Holdings ( STP), down 16.7%, were all laggards within the technology sector with Electronic Arts ( EA) being today's technology sector laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

It's Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREE.
null

If you liked this article you might like

4 Safe Cybersecurity Stocks: VRSN, NICE, QLYS, MIME

Cybersecurity Stocks: 4 Safe Picks

Five Stocks Breaking Out of Weekly Technical Chart Patterns

Market Recon: This Barbarous Relic Has Been Seriously Hot Lately

VeriSign (VRSN) Stock Sharply Higher in After-Hours Trade on Q3 Beat