Verint Systems up after Q3 results beat expectations

Verint Systems

05/12/2024 12:08

** Shares of customer engagement software firm Verint
Systems  VRNT.O  rise ~22% to $31.65 premarket
    ** On Wednesday, VRNT's Q3 sales of $224.2 mln beat
analysts' est of $210.1 mln, according to LSEG data, helped by
strong AI momentum in its bundled software as a service products
    ** Co's Q3 profit of 54 cents/shr beats est. of 43 cents/shr
    ** Brokerage TD Cowen says it expects VRNT to "achieve
rule-of-40 performance", referring to combination of revenue
growth and profit margins to meet or exceed a total of 40%
    ** As of last close, stock has fallen 3.9% YTD

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))