These Analysts Cut Their Forecasts On Verint Systems Following Weak Q2 Results

Verint Systems Inc. VRNT reported weaker-than-expected second-quarter results.

Verint posted quarterly earnings of 48 cents per share, missing market expectations of 57 cents per share. The company’s quarterly sales came in at $210.41 million versus estimates of $225.10 million.

Verint shares dipped 16.8% to $25.67 in pre-market trading.

These analysts made changes to their price targets on Verint Systems following earnings announcement.

• Needham cut the price target on Verint Systems from $50 to $40. Needham analyst Ryan MacDonald maintained a Buy rating.
• RBC Capital slashed the price target on Verint Systems from $46 to $38. RBC Capital analyst Dan Bergstrom maintained an Outperform rating.
• Evercore ISI Group lowered the price target on Verint Systems from $50 to $28. Evercore ISI Group analyst Peter Levine downgraded the stock from Outperform to In-Line.
• Oppenheimer analyst Shaul Eyal, meanwhile, downgraded Verint from Outperform to Perform.

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