Wedbush Downgrades VeriSign (VRSN) to Neutral; Growth Catalysts Not Expected Until 2011
More News related to VRSN
- ".com 25" Nominees Announced as 25th Anniversary of .com Approaches
- .com Approaches 25th Anniversary
- Deutsche Bank Downgrades VeriSign (VRSN) to Hold; View Shares as Range Bound
- After-Hours Movers 2/2: BGP, SOLR, NETL, APKT, SGI, IVAC, MYGN Higher; KNXA, CHRW, CTRP, NMM, TSO Lower
- VeriSign (VRSN) Posts Q4 EPS of $0.31, Misses by 3c
More News related to Downgrades
- S&P Lowers Pinnacle Entertainment (PNK) Outlook from Stable to Negative
- Mindspeed (MSPD) Moving Lower as Brigantine Downgrades to Hold
- Davenport Downgrades Electronic Arts (ERTS) to Sell; Lowers Q4, 2010-11 Estimates
- Stifel Nicolaus Downgrades Parkway Properties (PKY) to Sell
- Craig-Hallum Downgrades Terremark (TMRK) to Accumulate
Wedbush downgrades VeriSign (Nasdaq: VRSN) from Outperform to Neutral. Price target lowered from $25 to $23.
Wedbush analyst says, "Downgrading to NEUTRAL on lower-than-expected revenue and operating margin growth. While we believe VeriSign has several long-term growth opportunities, we do not expect these growth catalysts to make a material positive impact until 2011...We expect the Naming segment to grow mid-single digits until a price increase or new growth opportunities boosts revenue growth in 2011...We believe Authentication and Security segment will continue to suffer from competition in the SSL market and a mix shift toward low-priced certificates, which is likely to keep average unit revenue trending down and limit revenue growth despite new growth initiatives...Slightly reducing our FY10 revenue and EPS estimates to reflect new guidance."
To see all the upgrades/downgrades on shares of VRSN, visit our Analyst Ratings page.
VeriSign, Inc. provides infrastructure services to various networks worldwide.
Related Categories
DowngradesStocks Mentioned
+0.02Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
