Shares of e-commerce security company Verisign (Nasdaq: VRSN) rose more than five percent on Monday, gaining 5-3/4 to 116 after receiving positive coverage from two investment firms. CIBC World Markets and Credit Suisse First Boston both initiated coverage of Verisign with a buy rating.
This company’s stock has been on a stellar run in the past year. The stock is now near its highs of 117-3/4 and nearly 12 times higher than its 52-week low of 9-11/16. With more and more investors jumping into the e-commerce infrastructure, the stock could keep on climbing.