UPDATE: Oppenheimer Maintains Perform on Verisign

Oppenheimer maintains a Perform rating on Verisign

. Oppenheimer notes, “After market close, on 6/25, VRSN announced the board of directors of the Internet Corporation for Assigned Names and Numbers (ICANN) approved the renewal of VRSN's agreement to serve as the authoritative registry operator for the .com registry. The US Commerce Dept. will review the contract and give it final approval. Under the new contract VRSN will be responsible for an additional 220 domain names and the company will be able to increase the price of a domain name by 7% in any four years over the life of the contract. With shares up ~7.1% over the past month we believe the good news is already baked into the share price and maintain our Perform rating.” Verisign closed at $42.63 yesterday.