The Verisign, Inc. (VRSN) Lifted to Buy at Zacks Investment Research

The Verisign, Inc. (VRSN) Lifted to Buy at Zacks Investment Research

According to Zacks, “We believe that VeriSign is well positioned to benefit from strong growth in both developed and emerging economies. The renewal of the .com contract and price hikes for the .com and .net domain names remain primary growth drivers. We also remain optimistic about VeriSign’s Security services business. However, we believe the company can be affected by the impact of search engine adjustments on domain monetization, rising expenses and increasing competition. Notably, shares have underperformed the broader market on a year-to-date basis.”

Zacks Investment Research upgraded shares of Verisign, Inc. (NASDAQ:VRSN) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. Zacks Investment Research currently has $101.00 price objective on the information services provider’s stock.

VRSN has been the subject of several other reports. Cowen and Company boosted their target price on shares of Verisign from $89.00 to $94.00 and gave the stock a market perform rating in a research report on Monday, April 3rd. Citigroup Inc raised shares of Verisign from a sell rating to a neutral rating in a research report on Wednesday, April 12th. Finally, Robert W. Baird reissued a neutral rating and issued a $85.00 target price on shares of Verisign in a research report on Tuesday, February 28th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has a consensus rating of Hold and an average target price of $87.60. Verisign (NASDAQ:VRSN) opened at 92.55 on Tuesday. Verisign has a 52 week low of $74.01 and a 52 week high of $92.77. The stock has a market cap of $9.39 billion, a P/E ratio of 26.14 and a beta of 1.20. The stock has a 50 day moving average of $89.62 and a 200-day moving average of $84.04.

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its stake in Verisign by 1,765.9% in the first quarter. BlackRock Inc. now owns 7,706,691 shares of the information services provider’s stock valued at $671,330,000 after buying an additional 7,293,666 shares in the last quarter. Norges Bank purchased a new stake in Verisign during the fourth quarter valued at about $91,110,000. Gruss Capital Management LP increased its stake in Verisign by 340.0% in the first quarter. Gruss Capital Management LP now owns 880,000 shares of the information services provider’s stock valued at $76,657,000 after buying an additional 680,000 shares in the last quarter. Two Sigma Advisers LP increased its stake in Verisign by 51.0% in the third quarter. Two Sigma Advisers LP now owns 873,780 shares of the information services provider’s stock valued at $68,365,000 after buying an additional 295,000 shares in the last quarter. Finally, Strs Ohio increased its stake in Verisign by 341.2% in the first quarter. Strs Ohio now owns 374,574 shares of the information services provider’s stock valued at $32,629,000 after buying an additional 289,680 shares in the last quarter. About Verisign

VeriSign, Inc is a provider of domain name registry services and Internet security. The Company operates through Registry Services and Security Services segment. Registry Services ensure the security, stability and resiliency of Internet infrastructure and services, including the .com and .net domains, and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:VRSN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”}); Get a free copy of the Zacks research report on Verisign (VRSN)

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