Verisign, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Ygal Arounian from Citi maintained a Buy rating on the stock and has a $330.00 price target.
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Ygal Arounian has given his Buy rating due to a combination of factors including positive domain trends and strong pricing power. Verisign’s .com domains have returned to year-over-year growth, which has led to an increase in domain and revenue estimates. This consistent growth in domains, particularly over the past six months, has prompted a revision of the target price to $330.
Additionally, the valuation metrics have been adjusted upwards, with an increased EV/EBITDA multiple and PE ratio, reflecting confidence in Verisign’s continued performance. The stock’s year-to-date increase of 37% indicates investor optimism, and with domains nearing the high end of fiscal year 2025 guidance, further guidance raises are anticipated. These factors collectively justify the Buy rating and suggest potential for further share price appreciation.
In another report released on July 1, Robert W. Baird also maintained a Buy rating on the stock with a $305.00 price target.
Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VRSN in relation to earlier this year.