VeriSign upgraded to Outperform from Neutral at Baird

Baird analyst Rob Oliver upgraded VeriSign (VRSN) to Outperform from Neutral with a price target of $250, up from $200. The shares are roughly flat over the last five years and down 15% since Baird’s July 2023 downgrade, the analyst tells investors in a research note. The firm says that with regulatory concerns now behind the company, the focus shifts to domain growth, where data is beginning to show improvement. It believes the prospects of a better macro environment, potential for channel marketing plans, and the removal of price concerns support a higher risk-adjusted multiple for VeriSign.