Verint Systems (VRNT): Enterprise Improvement And Cyber Deal Indicate Trends Improving - Oppenheimer
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Oppenheimer analyst, Shaul Eyal, reiterated his Outperform rating on shares of Verint Systems (NASDAQ: VRNT) after the company reported 2Q16 earnings that were ahead of expectations.
VRNT posted $0.57/$264M vs. consensus of $0.54/$265M. Enterprise rose 4% y/y. In Cyber Intelligence, VRNT won several large contracts, saw early signs of emerging markets improvement, and won the largest government project in its history, potentially worth over $200M if VRNT's customer initiates all contract phases. As of 3Q, VRNT is changing its reporting to two segments: Customer Engagement Solutions (estimated at 2/3rds of current fiscal year revenue) and Cyber Intelligence Solutions (1/3) from its prior three segments. VRNT's Video business will be apportioned between the two new segments based on the strategic fit of the various video offerings.
No change to the price target of $49.
Shares of Verint Systems closed at $35.16 yesterday.
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