VeriSign sell-off creates buying opportunity, says Wells Fargo Wells Fargo believes confusion surrounding the National Telecommunications and Information Administration's intent to transition key Internet domain name functions has created a buying opportunity for shares of VeriSign. Wells says NTIA's announcement has no impact on VeriSign's .com and .net contracts. The firm notes that the U.S. has been moving away from the governance of domain registries since ICANN was created in 1998 and it keeps an Outperform rating on shares of VeriSign.
VeriSign downgraded to Underperform from Neutral at Credit Suisse Credit Suisse downgraded VeriSign to Underperform due to relative valuation, expectations for slowing operating profit and EPS growth, and near-term risk to domain name growth. Price target remains $47.50.
VeriSign downgraded to Underweight from Neutral at JPMorgan JPMorgan downgraded VeriSign to Underweight saying new generic Top Level Domains are cannibalizing growth in .com. The firm sees a lack of near-term catalysts and keeps a $57.50 price target for shares.