Verint Systems rise after Q3 results beat on Saas growth

Verint Systems

07/12/2023 12:48

** Shares of data analytics firm Verint Systems  VRNT.O 
climb 9.2% to $26.25 premarket after Q3 results beat estimates 
    ** Co reports Q3 revenue of $218.5 mln, beating LSEG
estimates of $215.9 mln 
    ** Q4 adj. earnings of 65 cents/shr above estimates of 57
cents/shr 
    ** Co says 12-month software as a service (SaaS) pipeline at
end of Q3 up 20% YoY on increase in customer adoption of
artificial intelligence (AI) 
    ** Brokerage Jefferies says co's higher margin AI offerings
driving margin outperformance; profitability "solid" despite
slowing SaaS growth 
    ** Four analysts rate stock "buy" or higher, and three rate
it "hold"; median PT stands at $35 - LSEG data 
    ** Stock down 33.8% YTD as of last close 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))