Verint Systems Inc Down 6.89% To $42.29 After Earnings Beat

Thursday, September 8, 2022 - Verint Systems Inc (VRNT) reported upside earnings and downside revenues.

Verint Systems Inc's earnings came in at an EPS of $0.56 per share, 6.00% higher than estimates for an EPS of $0.53 per share. The firm's earnings are down 3% since reporting $0.58 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were downbeat at $223.6 million. That is an increase of 3.71% in revenues from the year-ago report and is 0.83% lower than consensus estimates set at $225.5 million. Again, keep in mind that the revenues reported were on an adjusted basis, so they may not be directly comparable to estimates and prior periods.

The stock is down 6.89% to $42.29 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Verint Systems Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 64. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Verint Systems Inc with its subsidiaries helps brands provide Boundless Customer Engagement. The company's solutions help iconic brands close the gap created when it lacks the resources required to deliver experiences that fulfill customer expectations. The operating business segments are Customer Engagement and Cyber Intelligence. The Customer Engagement segment derives maximum revenue for the company.