It’s not quite the dot.com boom, but Verisign’s share price has hit a key number.
Verisign’s (NASDAQ: VRSN) stock price has eclipsed $200 per share for the first time since the dot com boom. Shares briefly traded for above $250 in March 2000 before the bubble burst.
The company’s market cap is about $24 billion. It peaked at nearly $40 billion in 2000. Verisign’s market cap has tripled since January 2017.
Shares are up 6% today after the company announced earnings yesterday.
While revenue growth is slow, operating margins hovers near 70%. Investors are also hoping that the company will be able to increase prices on .com domains starting in a couple of years. This would give the company a jolt of additional revenue at 100% margin.
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Author: Andrew Allemann