VeriSign (VRSN) Gains as Cowen Sees Better-than-Expected Qtr
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VeriSign (NASDAQ: VRSN) is gaining sharply Friday after Cowen analyst Gregg Moskowitz said they estimate the company is tracking to ~1.1m net domain (.com/.net) adds for 3Q, and the quarter is tracking slightly above the high end of guidance.
Moskowitz commented, "Following a much better Aug., this places VRSN slightly above the high end of its guided range, and well above our 700k est. Separately, the DOJ posted a response to Senator Cruz's letter. While the language used was noncommittal, we believe it may indicate that a material adverse outcome for VRSN is not very likely to occur."
The firm maintained an Market Perform rating and price target of $80.00
Shares of VeriSign closed at $74.81 yesterday.
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