Verint Systems (NASDAQ:VRNT) Issues FY 2023 Earnings Guidance

Verint Systems (NASDAQ:VRNTGet Rating) updated its FY 2023 earnings guidance on Tuesday. The company provided EPS guidance of $2.50-$2.50 for the period, compared to the consensus EPS estimate of $2.51. The company issued revenue guidance of $921.20 million-$958.80 million, compared to the consensus revenue estimate of $943.64 million.

Several equities research analysts have commented on VRNT shares. StockNews.com lowered shares of Verint Systems from a buy rating to a hold rating in a report on Friday, April 8th. The Goldman Sachs Group lowered shares of Verint Systems from a buy rating to a neutral rating and set a $57.00 price target on the stock. in a report on Tuesday, April 12th. Royal Bank of Canada raised their price objective on shares of Verint Systems from $57.00 to $61.00 and gave the stock an outperform rating in a research note on Wednesday, March 30th. Zacks Investment Research downgraded shares of Verint Systems from a buy rating to a hold rating in a report on Thursday, June 2nd. Finally, TheStreet lowered shares of Verint Systems from a b- rating to a c rating in a research report on Tuesday, April 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Verint Systems has an average rating of Buy and a consensus target price of $62.20.

Shares of NASDAQ VRNT traded up $0.60 during trading hours on Tuesday, reaching $52.46. The stock had a trading volume of 734,529 shares, compared to its average volume of 484,167. The firm has a 50-day moving average of $52.10 and a 200-day moving average of $51.26. Verint Systems has a fifty-two week low of $41.46 and a fifty-two week high of $56.39. The company has a current ratio of 1.37, a quick ratio of 1.36 and a debt-to-equity ratio of 0.43. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of -742.04, a PEG ratio of 2.22 and a beta of 0.77.

Verint Systems (NASDAQ:VRNTGet Rating) last posted its quarterly earnings data on Tuesday, March 29th. The technology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). Verint Systems had a return on equity of 12.68% and a net margin of 1.65%. The company had revenue of $234.17 million for the quarter, compared to analyst estimates of $231.77 million. During the same period in the previous year, the business posted $0.82 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts predict that Verint Systems will post 1.68 EPS for the current year.

In related news, CEO Dan Bodner sold 40,120 shares of Verint Systems stock in a transaction on Thursday, April 7th. The stock was sold at an average price of $50.49, for a total transaction of $2,025,658.80. Following the completion of the transaction, the chief executive officer now directly owns 976,483 shares of the company’s stock, valued at $49,302,626.67. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Elan Moriah sold 8,920 shares of the firm’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $51.58, for a total value of $460,093.60. Following the transaction, the president now directly owns 90,894 shares of the company’s stock, valued at approximately $4,688,312.52. The disclosure for this sale can be found here. Insiders have sold a total of 105,116 shares of company stock valued at $5,354,750 over the last ninety days. 2.40% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of VRNT. Vanguard Group Inc. raised its stake in Verint Systems by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 5,896,345 shares of the technology company’s stock valued at $304,841,000 after acquiring an additional 65,157 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Verint Systems by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,415,021 shares of the technology company’s stock valued at $73,156,000 after buying an additional 24,335 shares in the last quarter. State Street Corp increased its stake in Verint Systems by 2.0% during the 1st quarter. State Street Corp now owns 1,354,725 shares of the technology company’s stock valued at $70,039,000 after buying an additional 26,148 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Verint Systems by 1.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 735,162 shares of the technology company’s stock worth $38,008,000 after acquiring an additional 9,448 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Verint Systems by 35.5% in the first quarter. Goldman Sachs Group Inc. now owns 694,650 shares of the technology company’s stock valued at $35,913,000 after acquiring an additional 181,971 shares in the last quarter.

About Verint Systems (Get Rating)

Verint Systems Inc provides customer engagement solutions worldwide. It offers various applications for use in Forecasting and Scheduling, which understands the work needed to meet and exceed customer expectations; Quality and Compliance that uses automation and analytics for customer interactions for attended and self-service channels; Interaction Insights, which extracts insights from structured and unstructured customer interactions and activities; Real-Time Work that supports in-the-moment workforce activities; Engagement Channels, an application for messaging, social, chat, email, and interactive voice response; Conversational AI, an intelligent virtual assistant application to enable human-like conversations across every channel; Engagement Orchestration, an application that improves employee efficiency, time to resolution, compliance, and customer satisfaction with workflows; Knowledge Management, which help agents to deliver stellar service with tools.

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Earnings History and Estimates for Verint Systems (NASDAQ:VRNT)

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