Citi Raises VeriSign (VRSN) Price Target After .com Domain Growth

VeriSign, Inc. (NASDAQ:VRSN) ranks among the best forever stocks to invest in. On July 8, Citi reiterated its Buy rating on VeriSign, Inc. (NASDAQ:VRSN) while increasing the price target from $294 to $330 on the company’s shares. Citi noted encouraging domain patterns, stating that .com domains saw year-over-year growth in June for the first time in 15 months of the firm’s domain tracking.

According to Citi, investors have become more aware of VeriSign’s pricing power, which is assured for the next six-year contract period, resulting in a 37.20% increase in shares year-to-date. As domain registrations get closer to the upper end of VeriSign’s fiscal year 2025 projection, the firm anticipates that the company will raise its guidance for its 2025 second-quarter earnings report.

VeriSign, Inc. (NASDAQ:VRSN) is a multinational domain name registry and network infrastructure services supplier. The company remains the only registry for the .com and .net domains. Back in November 2024, VeriSign, Inc. (NASDAQ:VRSN) extended its registry agreement with the Internet Corporation for Assigned Names and Numbers (ICANN) for the .com domain. The company will continue to operate the .com registry until November 30, 2030.

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