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Oppenheimer Remains Bullish Following Verint Systems (VRNT) 1Q15 Results

June 4, 2015 6:38 AM

Oppenheimer reiterates an Outperform rating and $70.00 price target on Verint Systems (NASDAQ: VRNT) following the release of its 1Q15 results. VRNT reported EPS of $0.66, ahead of consensus $0.53. Revenue came in at $270M, but ex. a $13M negative impact from FX, revenue would have been ~$283M, beating the consensus $275M.

Analyst Shaul Eyal, commented, "On 6/3, for 1Q15 (ending 4/30/15), VRNT posted EPS of $0.66, ahead of the consensus $0.53. Revenue came in at $270M, but ex. a $13M negative impact from FX, revenue would have been ~$283M, beating the consensus $275M. Results were strong, particularly since 1Q is typically the seasonally weakest Q, and last year's 1Q was unusually strong. Some expenses expected in 1Q are likely to show up in later quarters, and as a result, the company maintained its guidance for the year (FYE Jan 16). VRNT is working to expand the presence of its next-generation cyber-solution to leverage the enterprise opportunity and will shed more light on that effort at next week's Analyst Day in Las Vegas. Reiterate Outperform."

For an analyst ratings summary and ratings history on Verint Systems click here. For more ratings news on Verint Systems click here.

Shares of Verint Systems closed at $66.35 yesterday.

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