VeriSign still seen as ‘powerful’ free cash flow story ahead of Q1 results: Baird

News Snapshot:

VeriSign (NASDAQ:VRSN) is slated to report first-quarter results after the close of trading on April 25 and Baird believes the internet domain company is still a safe long-term investment, citing its "powerful" free cash flow story. "We remain encouraged by the combination of VRSN’s secure long-term contracts with embedded pricing (.com contract renewal in November 2024)," analyst Rob Oliver wrote in an investor note. "While current valuation ~20x NTM FCF remains near low end of recent historical range (20-35x since 2018), we look for signs of domain stabilization before becoming more positive." Oliver has a Neutral rating and $215 price...