Analyst Note
| Nupur Balain |Wide-moat Verisign reported healthy first-quarter results which support our thesis that Verisign is well-poised for solid long-term growth on the back of increasing .com and .net domain adoption, as well as the potential for future price increases for its core .com and .net top-level domains, or TLDs. We are raising our fair value to $187 from $173. Shares are currently overvalued in our view, and we recommend investors wait for a margin of safety before buying the stock.