VeriSign Racks Up .net Renewal, Price Bump Alongside Solid 2Q Results; Maintain $74 FVE
VeriSign’s second-quarter results were roughly in line with our expectations, as the firm’s flagship top-level domain properties continue to drive solid performance for the company. Management also announced that the firm had successfully garnered a renewal for its .net contract, ensuring exclusivity through 2023, which also comes with a 10% price hike to $9.02 per domain. We are maintaining our narrow moat rating. Management provided updated guidance that fell roughly in line with our expectati...Verisign is a provider of domain name registry services and internet infrastructure, enabling internet navigation for domain names. The company enables the security, stability, and resiliency of main internet infrastructure and services, including providing root zone maintainer services, operating internet root servers, and providing registration services and authoritative resolution for the .com and .net top-level domains, which support the majority of global e-commerce. The company operates the authoritative directory of and/or the back-end systems for all .com, .net, .cc, .tv, .gov, .jobs, .edu and .name domain names, among others. The company also provides internationalized domain name services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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