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.

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 $45.45 yesterday.

You May Also Be Interested In

• 'Ocean of opportunity': Wolfe initiates SpaceX at Buy ahead of historic IPO
• Glenmark Pharmaceuticals Ltd. (GNP:IN) PT Raised to INR2,750 at Investec
• Nvidia pitches Vera CPU to Chinese clients with August delivery target