Evercore ISI Lowers Verint Systems (NASDAQ:VRNT) Price Target to $23.00

Verint Systems (NASDAQ:VRNT) had its target price dropped by research analysts at Evercore ISI from $34.00 to $23.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “in-line” rating on the technology company’s stock. Evercore ISI’s target price points to a potential upside of 19.42% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Verint Systems in a research report on Wednesday, January 15th. StockNews.com raised Verint Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Needham & Company LLC decreased their target price on Verint Systems from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Jefferies Financial Group raised their target price on Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.67.

Verint Systems Price Performance

Shares of VRNT traded down $2.36 during trading hours on Thursday, hitting $19.26. 1,237,226 shares of the stock were exchanged, compared to its average volume of 738,970. The stock’s 50-day moving average price is $23.99 and its two-hundred day moving average price is $24.79. Verint Systems has a 12-month low of $18.97 and a 12-month high of $38.17. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.32. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 0.97 and a beta of 1.29.

Verint Systems (NASDAQ:VRNT) last announced its quarterly earnings data on Wednesday, March 26th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.28). Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. The business had revenue of $253.50 million for the quarter, compared to analysts’ expectations of $276.82 million. During the same period in the prior year, the company posted $1.07 EPS. The firm’s revenue was down 4.4% on a year-over-year basis. Research analysts expect that Verint Systems will post 1.92 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in Verint Systems by 15.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,479,163 shares of the technology company’s stock valued at $68,054,000 after purchasing an additional 338,454 shares in the last quarter. Global Alpha Capital Management Ltd. raised its holdings in Verint Systems by 39.5% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,717,703 shares of the technology company’s stock valued at $47,151,000 after acquiring an additional 486,000 shares in the last quarter. Senvest Management LLC lifted its stake in Verint Systems by 9.1% in the fourth quarter. Senvest Management LLC now owns 1,577,332 shares of the technology company’s stock worth $43,298,000 after acquiring an additional 132,102 shares during the last quarter. State Street Corp lifted its stake in Verint Systems by 1.5% in the third quarter. State Street Corp now owns 1,573,801 shares of the technology company’s stock worth $39,864,000 after acquiring an additional 23,400 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Verint Systems by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,500,087 shares of the technology company’s stock worth $38,004,000 after acquiring an additional 4,034 shares in the last quarter. 94.95% of the stock is owned by institutional investors and hedge funds.

Verint Systems Company Profile

Verint Systems Inc provides customer engagement solutions worldwide. It offers forecasting and scheduling, channels and routing, knowledge management, fraud and security solutions, quality and compliance, analytics and insights, real-time assistance, self-services, financial compliance, and voice pf the consumer solutions.