Long Position on VRSN @ $71.00 on 8/11/2015 (Momentum)

VeriSign, Inc. (VRSN) provides domain name registry services and Internet security worldwide.

The company 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 .gov, .jobs, .edu domain names, and others. Its registry services allow individuals and organizations to establish their online identities.

The company also provides network intelligence and availability services consisting of distributed denial of service protection services, Verisign iDefense security intelligence services, and managed domain name system services. 

Shares have formed a bullish "flag" following the company's latest quarterly report. The company reported 2Q non-GAAP net income of $99 million or 74 cents a share compared with $96 million or 68 cents reported in the year-ago quarter. Revenues increased 4.9% year over year to $263 million. VeriSign processed 8.7 million new domain name registrations for .com and .net, an increase from 8.5 million in the year-ago quarter. VeriSign’s renewal rate for the second quarter was 73.4%, up 80 basis points (bps) year over year. Higher share prices are expected for this stock.

52-Weeks Trading Range: $52.10 - $71.82

Entry Point: $71.00

Stop Loss: $67.45

Target Price: $78.10

Updates

9/25/2015 3:15:05 PM

Closing VRSN at $69.00

Position closed on 9/25/2015 at price of $69.00 with a -2.82% loss in 45 days.

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