Credit Suisse Downgrades Verint Systems (VRNT) to Neutral

Credit Suisse downgraded Verint Systems (NASDAQ: VRNT) from Outperform to Neutral with a price target of $45.00 (from $60.00).

Analyst M. Nemeroff commented, "F3Q rev missed Street and mgmt. guided F4Q rev/EPS down further, after lowering the bar last qtr. More importantly, mgmt. guided prelim F2017 revenue growth to just +5% yr/yr (in CC), well below Street of +9% and meaningfully lower than VRNT's 'double-digit' long-term growth target, due to persistent macro headwinds and expectations for weaker pipeline conversions over the near to medium-term."

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 $46.46 yesterday.

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