Verint Systems (NASDAQ:VRNT) Given New $30.00 Price Target at Wedbush

Verint Systems (NASDAQ:VRNT) had its price target dropped by Wedbush from $38.00 to $30.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Wedbush’s price target points to a potential upside of 64.20% from the company’s previous close.

A number of other research firms have also recently commented on VRNT. StockNews.com cut shares of Verint Systems from a “buy” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group raised their price target on Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Royal Bank of Canada dropped their target price on Verint Systems from $36.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday. Needham & Company LLC reduced their price target on shares of Verint Systems from $40.00 to $30.00 and set a “buy” rating for the company in a report on Thursday. Finally, Evercore ISI dropped their price target on shares of Verint Systems from $34.00 to $23.00 and set an “in-line” rating on the stock in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.33.

Verint Systems Trading Down 2.5 %

NASDAQ VRNT traded down $0.46 during mid-day trading on Friday, reaching $18.27. 96,925 shares of the stock were exchanged, compared to its average volume of 745,907. The business’s fifty day simple moving average is $23.88 and its 200 day simple moving average is $24.74. 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 stock has a market capitalization of $1.14 billion, a PE ratio of 19.44, a PEG ratio of 0.97 and a beta of 1.29. Verint Systems has a 1-year low of $18.14 and a 1-year high of $38.17.

Verint Systems (NASDAQ:VRNT) last issued its earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.28). The firm had revenue of $253.50 million during the quarter, compared to analyst estimates of $276.82 million. Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. Verint Systems’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS. On average, research analysts anticipate that Verint Systems will post 1.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verint Systems

Large investors have recently made changes to their positions in the business. Plato Investment Management Ltd acquired a new stake in shares of Verint Systems during the fourth quarter valued at approximately $43,000. Parkside Financial Bank & Trust purchased a new position in Verint Systems during the fourth quarter valued at approximately $52,000. Headlands Technologies LLC purchased a new position in Verint Systems during the fourth quarter valued at approximately $52,000. Sterling Capital Management LLC increased its stake in Verint Systems by 808.0% in the 4th quarter. Sterling Capital Management LLC now owns 1,925 shares of the technology company’s stock valued at $53,000 after buying an additional 1,713 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in Verint Systems by 45.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company’s stock worth $54,000 after buying an additional 613 shares in the last quarter. Institutional investors own 94.95% of the company’s stock.

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.