VRSN: VeriSign Stock Drops on Analyst Downgrade

Shares of VeriSign (VRSN) sank more than 3% in Friday midday trading after analysts at a major bank cut their rating for VRSN stock.

Day Trading 185Wells Fargo (WFC) downgraded its rating for VRSN stock from “Outperform” to “Market Perform,” citing slowing domain growth and its likely impact on VRSN revenue, TheStreet notes.

Founded in 1995 as a spinoff from RSA Security, VeriSign manages DNS internet infrastructure and provides a range of online security services.

VRSN stock closed at $50.73 on Thursday.

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Article printed from InvestorPlace Media, https://investorplace.com/2014/06/vrsn-verisign-stock-drops-analyst-downgrade/.

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