Verint Systems (VRNT) Gets a Buy Rating from Needham

In a report released today, Ryan MacDonald from Needham assigned a Buy rating to Verint Systems (VRNTResearch Report), with a price target of $61.00. The company’s shares closed last Monday at $46.22.

According to TipRanks.com, MacDonald is a top 100 analyst with an average return of 41.8% and a 73.4% success rate. MacDonald covers the Technology sector, focusing on stocks such as Coupa Software, ChannelAdvisor, and Veeva Systems.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Verint Systems with a $59.33 average price target, a 29.5% upside from current levels. In a report issued on March 31, Jefferies also assigned a Buy rating to the stock with a $55.00 price target.

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Based on Verint Systems’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $349 million and GAAP net loss of $19.92 million. In comparison, last year the company earned revenue of $339 million and had a net profit of $4.87 million.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VRNT in relation to earlier this year.

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Verint Systems, Inc. engages in providing actionable intelligence. It operates through the following segments: Enterprise Intelligence Solutions, Cyber Intelligence Solutions, and Video and Situation Intelligence Solutions. The Enterprise Intelligence segment includes solutions for customer analytics, engagement management, and workforce optimization. The Cyber Intelligence Solutions segment addresses the security intelligence market. The Video and Situation Intelligence Solutions segment handles the fraud, risk, and compliance market. The company was founded in February 1994 and is headquartered in Melville, NY.