The Internet infrastructure company reported third-quarter profit last week of $240 million, or 32 cents a share, an increase from earnings a year earlier of $132 million, or 17 cents.
ThinkEquity analysts raised their price target on the company to $44 from $42 on Friday."Management has indicated intention to potentially increase expense rates and infrastructure spending targeting advanced and highly specialized domain security services, while the M&A strategy continues to focus on fit with the domain management business, and quality of revenue," ThinkEquity analysts said in a report. Shares of VeriSign were upgraded to a buy from a hold on Monday by TheStreet Ratings. VeriSign gets a B- grade from TheStreet Ratings with a $41.49 price target. Shares closed at $36.32 on Friday.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts