Rosenblatt Securities Initiates Coverage on Verint Systems (NASDAQ:VRNT)

Stock analysts at Rosenblatt Securities initiated coverage on shares of Verint Systems (NASDAQ:VRNT) in a report issued on Friday,Benzinga reports. The firm set a “buy” rating and a $40.00 price target on the technology company’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 92.22% from the company’s current price.

VRNT has been the subject of several other reports. Royal Bank Of Canada decreased their price target on shares of Verint Systems from $36.00 to $29.00 and set an “outperform” rating for the company in a research note on Thursday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price target on shares of Verint Systems in a research note on Thursday, June 5th. Wall Street Zen downgraded Verint Systems from a “buy” rating to a “hold” rating in a report on Thursday, March 27th. Cowen reissued a “buy” rating on shares of Verint Systems in a report on Wednesday, June 4th. Finally, Evercore ISI cut their price objective on Verint Systems from $34.00 to $23.00 and set an “in-line” rating for the company in a report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $31.71.

Verint Systems Stock Up 1.2%

Shares of NASDAQ VRNT opened at $20.81 on Friday. The firm’s 50-day simple moving average is $18.70 and its 200 day simple moving average is $20.59. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 0.83 and a beta of 1.43. Verint Systems has a 12-month low of $14.15 and a 12-month high of $37.31.

Verint Systems (NASDAQ:VRNT) last released its earnings results on Wednesday, June 4th. The technology company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). The business had revenue of $173.62 million for the quarter, compared to analyst estimates of $194.61 million. Verint Systems had a net margin of 7.66% and a return on equity of 12.35%. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 earnings per share. On average, equities analysts expect that Verint Systems will post 1.92 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC lifted its stake in shares of Verint Systems by 19.8% in the second quarter. Janney Montgomery Scott LLC now owns 45,480 shares of the technology company’s stock worth $895,000 after acquiring an additional 7,513 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Verint Systems by 6.9% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 898,328 shares of the technology company’s stock worth $17,670,000 after acquiring an additional 57,939 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Verint Systems in the second quarter worth approximately $3,308,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Verint Systems in the second quarter worth approximately $289,000. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Verint Systems by 14.0% in the second quarter. Harbor Capital Advisors Inc. now owns 16,536 shares of the technology company’s stock worth $325,000 after acquiring an additional 2,031 shares during the period. 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.