Citi Removes 90d Upside Catalyst Call on VeriSign (VRSN)

Citi analyst Ygal Arounian reiterated a Buy rating and $260.00 price target on VeriSign (NASDAQ: VRSN).

The analyst comments "We are closing our positive catalyst watch 35 days ahead of its 90-day expiration given the stock’s strong outperformance (+18% since 2/3/25 close vs the S&P 500’s -6%) as .com domain growth continues to improve. Our 4/1/25 domain tracker update shows Verisign’s domain name base grew sequentially for the third consecutive month, a first since we started tracking daily domains in April 2023. Following ICANN and DOC contract renewals in November, Verisign’s pricing power now remains intact through 2030, which supports better growth, volume is now the key growth variable. Improving volume trends have been encouraging for a better top-line outlook. While we still believe domain growth should continue to improve and can support further share price appreciation, with the significant outperformance we’re comfortable closing the catalyst watch now. While we are closing the positive catalyst watch, we remain positive on Verisign and its outlook as we maintain our Buy."

For an analyst ratings summary and ratings history on VeriSign click here. For more ratings news on VeriSign click here.

Shares of VeriSign closed at $253.87 yesterday.

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