Needham & Company LLC Issues Pessimistic Forecast for Verint Systems (NASDAQ:VRNT) Stock Price

Verint Systems (NASDAQ:VRNT) had its target price cut by stock analysts at Needham & Company LLC from $40.00 to $30.00 in a research report issued on Thursday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target points to a potential upside of 68.07% from the stock’s current price.

Other analysts have also issued research reports about the company. StockNews.com raised Verint Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Jefferies Financial Group boosted their price objective on Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 target price on shares of Verint Systems in a report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.33.

Verint Systems Stock Down 4.7 %

Shares of NASDAQ:VRNT opened at $17.85 on Thursday. Verint Systems has a 52-week low of $17.64 and a 52-week high of $38.17. The stock has a market cap of $1.11 billion, a P/E ratio of 18.99, a PEG ratio of 0.97 and a beta of 1.29. The business has a fifty day moving average of $23.75 and a two-hundred day moving average of $24.69. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.47.

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 analysts’ consensus estimates of $1.27 by ($0.28). The firm had revenue of $253.50 million during the quarter, compared to analysts’ expectations of $276.82 million. Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 EPS. On average, research analysts expect that Verint Systems will post 1.92 earnings per share for the current year.

Institutional Trading of Verint Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRNT. Mackenzie Financial Corp raised its stake in Verint Systems by 142.6% during the 4th quarter. Mackenzie Financial Corp now owns 97,757 shares of the technology company’s stock worth $2,683,000 after acquiring an additional 57,465 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new position in shares of Verint Systems during the fourth quarter worth about $768,000. ProShare Advisors LLC increased its position in shares of Verint Systems by 32.4% during the fourth quarter. ProShare Advisors LLC now owns 22,769 shares of the technology company’s stock worth $625,000 after purchasing an additional 5,571 shares in the last quarter. Man Group plc purchased a new stake in shares of Verint Systems in the 4th quarter valued at about $221,000. Finally, Millennium Management LLC boosted its position in shares of Verint Systems by 62.1% in the 4th quarter. Millennium Management LLC now owns 516,438 shares of the technology company’s stock valued at $14,176,000 after purchasing an additional 197,893 shares during the period. Institutional investors and hedge funds 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.