VRSK) Hit ATH, What’s Next?

The VRSK stock has a float of 143.979 Million shares and a market cap of $35.011 Billion. The Verisk stock’s average volume for the last 10 days is 736.137 K and its current volume is 602.635 K. The Verisk stock has a CMP of $241.41 and an intraday loss of 0.53%.

At the time of publishing, the major EMA’s in Verisk Analytics, Inc. (NASDAQ: VRSK) stock are keeping it in between, highlighting sellers’ presence increasing at the top and may decline more. The MACD shows a bearish cross on the charts with increasing width in the histogram and RSI is in at 50 taking resistance from 14 SMA.

The VRSK stock has been on a rising trend since September 2017, starting from $75 support and making higher highs and lows until it reached $249 by September 13, 2023. The VRSK journey faced many challenges in its long bull run but it bounced back with the help of trendline support which kept the stock upward even in the current year, this reflects its strong fundamentals. 

However, the uptrend was interrupted in the last few days as the buyers could not maintain the high level and the stock fell due to shareholders taking profits from the last dividend date. If the VRSK profit-taking continues, then the market might not hold and if it breaks below the previous swing low, then the structure might turn bearish as well.

Verisk’s latest quarterly balance sheet for the period ending June 2023 reported total assets of $4.32 Billion and total liabilities of $4.01 Billion. The debt-to-assets ratio is 92.91%  and has increased significantly from the past few quarter reports which might not be a good sign for the VRSK stock.

However, the VRSK company reported its revenue of $675.00 Million, a net income of $196.90 Million, and a profit margin of 29.17% for the period ending June 2023. This shows that the VRSK has improved its revenue, net margin, and profit margin significantly from the previous quarters. The VRSK also managed to beat the analysts’ estimates by $20.47 Million in revenue for this recent quarter. The VRSK stock expects to generate 662.025 Billion in revenue for the next quarter.

The VRSK company did not pay any dividends to its shareholders before 2019 in the past, but it started to do so from 2019 onwards. It is likely that the VRSK stock will continue to pay dividends in the future as well. This means that the shareholders have begun to receive regular income every quarter from the VRSK stock and this made the stock more appealing to many investors. 

Furthermore, the VRSK company paid a dividend of $0.34 with a dividend yield in TTM of 0.54% and the EX-date was September 14th 2023. The company even increased the annual dividend amount from $1 to $1.24 in the past years, highlighting the stocks growth which is resembled on the charts as well.

VRSK Stock Price Technical Analysis in 1-D Timeframe

Verisk Analytics, Inc. (NASDAQ: VRSK) is experiencing a resistance from $249, The current market price of VRSK stock is $241.41 and is trying to sustain above the previous swing low and 50-day EMA.

The stock may continue to fall further if it breaks below the previous swing low  and 50 EMA, simultaneously, and breaks below $226, which could lead to a target of $220. On the other hand, if Verisk stock manages to reverse the trend and gain strong buying momentum, it could rise more upto $245, which could trigger a rally above $249 or higher.

Summary

Verisk stock is in a facing resistance from ATH since previous dividends which invited some profit booking. The stock has paid $0.34 as dividends and may fall to $220 or rise to $249 depending on the trend reversal. The technical indicators are neutral to bearish.

Technical Levels

Support levels: $226 and $220

Resistance levels: $245 and $249

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

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