Zacks: Analysts Anticipate Verint Systems Inc. (VRNT) Will Announce Quarterly Sales of $282.85 Million
Wall Street analysts forecast that Verint Systems Inc. (NASDAQ:VRNT) will report $282.85 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Verint Systems’ earnings. The highest sales estimate is $283.86 million and the lowest is $282.00 million. Verint Systems posted sales of $258.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.3%. The firm is expected to issue its next earnings results on Wednesday, December 6th.
According to Zacks, analysts expect that Verint Systems will report full year sales of $282.85 million for the current year, with estimates ranging from $1.14 billion to $1.15 billion. For the next financial year, analysts forecast that the business will report sales of $1.23 billion per share, with estimates ranging from $1.20 billion to $1.28 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Verint Systems.
Verint Systems (NASDAQ:VRNT) last announced its quarterly earnings results on Wednesday, September 6th. The technology company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.14. The firm had revenue of $278.20 million for the quarter, compared to analyst estimates of $270.14 million. Verint Systems had a negative net margin of 2.42% and a positive return on equity of 9.90%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS.
A number of research firms have recently weighed in on VRNT. Zacks Investment Research downgraded Verint Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 9th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $49.00 target price on shares of Verint Systems in a report on Thursday, September 28th. Royal Bank Of Canada reissued a “buy” rating and set a $48.00 target price on shares of Verint Systems in a report on Tuesday, August 15th. Finally, Deutsche Bank AG lifted their target price on Verint Systems from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, September 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $46.43.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Atria Investments LLC increased its position in shares of Verint Systems by 1.3% in the second quarter. Atria Investments LLC now owns 4,908 shares of the technology company’s stock worth $200,000 after purchasing an additional 63 shares during the period. Creative Planning increased its position in shares of Verint Systems by 0.9% in the second quarter. Creative Planning now owns 7,856 shares of the technology company’s stock worth $320,000 after purchasing an additional 67 shares during the period. Amalgamated Bank increased its position in shares of Verint Systems by 2.1% in the second quarter. Amalgamated Bank now owns 7,969 shares of the technology company’s stock worth $324,000 after purchasing an additional 163 shares during the period. Carleon Capital Partners LLC increased its position in shares of Verint Systems by 0.8% in the second quarter. Carleon Capital Partners LLC now owns 29,903 shares of the technology company’s stock worth $1,199,000 after purchasing an additional 250 shares during the period. Finally, Hartford Investment Management Co. increased its position in shares of Verint Systems by 0.4% in the second quarter. Hartford Investment Management Co. now owns 73,002 shares of the technology company’s stock worth $2,971,000 after purchasing an additional 260 shares during the period. Institutional investors own 93.08% of the company’s stock.
Shares of Verint Systems (NASDAQ:VRNT) opened at 42.95 on Tuesday. The firm has a 50-day moving average of $41.68 and a 200 day moving average of $40.35. The company’s market cap is $2.74 billion. Verint Systems has a one year low of $33.40 and a one year high of $44.70.
Verint Systems Company Profile
Verint Systems Inc offers Actionable Intelligence solutions. The Company delivers its Actionable Intelligence solutions through two operating segments: Customer Engagement Solutions and Cyber Intelligence Solutions. It is a provider of customer engagement software and services that can be deployed on-premises or in the cloud.
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