Verint Systems Hits New 12-Month High Following Earnings Beat (VRNT)
Shares of Verint Systems (NASDAQ:VRNT) reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings, American Banking News.com reports. The stock traded as high as $53.19 and last traded at $52.08, with a volume of 1,374,399 shares changing hands. The stock had previously closed at $46.59.
The company reported $0.72 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.55 by $0.17. The company had revenue of $257.40 million for the quarter, compared to the consensus estimate of $254.99 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 25.3% on a year-over-year basis.
VRNT has been the subject of a number of recent research reports. Analysts at CRT Capital raised their price target on shares of Verint Systems from $58.00 to $60.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Credit Suisse upgraded shares of Verint Systems from a “neutral” rating to an “outperform” rating in a research note on Thursday. Finally, analysts at FBR Capital Markets raised their price target on shares of Verint Systems from $57.00 to $60.00 in a research note on Thursday. They now have an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $54.86.
The stock’s 50-day moving average is $44.27 and its 200-day moving average is $44.21. The company has a market cap of $2.783 billion and a price-to-earnings ratio of 47.06.
Verint Systems Inc (NASDAQ:VRNT) is engaged in Actionable Intelligence solutions and value-added services.
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