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 reports Q3 EPS 70c, consensus 69c Reports Q3 revenue $255M, consensus $253.6M. Verisign Registry Services added 1.15M net new names during Q3, ending with 130M active domain names in the zone for .com and .net, which represents a 3.3% increase over the zone at the end of Q3 in 2013. In Q3, Verisign processed 8.7M new domain name registrations for .com and .net as compared to 8.3M for the same period in 2013.