Citi has increased its price target for VeriSign (VRSN, Financial) to $330, up from a previous target of $294, while maintaining a Buy rating on the stock. The adjustment comes as the company's monthly domain tracker has shown consistent growth, with six straight months of increases in domain registrations. This trend has prompted Citi to raise its domain and revenue projections for VeriSign ahead of its second-quarter financial report.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 3 analysts, the average target price for VeriSign Inc (VRSN, Financial) is $272.78 with a high estimate of $305.00 and a low estimate of $219.34. The average target implies an downside of 4.49% from the current price of $285.60. More detailed estimate data can be found on the VeriSign Inc (VRSN) Forecast page.
Based on the consensus recommendation from 4 brokerage firms, VeriSign Inc's (VRSN, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for VeriSign Inc (VRSN, Financial) in one year is $254.97, suggesting a downside of 10.72% from the current price of $285.6. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the VeriSign Inc (VRSN) Summary page.
