Needham & Company Reiterates Buy Rating on Verint Systems (VRNT) Following 1Q
Needham & Company analyst Ryan MacDonald reiterated a Buy rating and $53.00 price target on Verint Systems (NASDAQ: VRNT) following the company's 1Q earnings report. The COVID-19 pandemic resulted in on-premise deployment delays in both segments, leading to results that came in below expectations. 1QF21 revenue/EPS of $291.6mm/$0.52 came in below $331.3mm/$0.77 estimates.
Though management did not provide FY21 guidance, they do expect a modest sequential revenue improvement in 2Q21 that should continue into the back half of the year.
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Shares of Verint Systems closed at $45.45 yesterday.