As previously reported, Evercore ISI downgraded Verint Systems to In Line from Outperform with a price target of $28, down from $50, following what the firm calls “a lackluster quarter” that saw the company underperform expectations “on all metrics across the board.” While calling the stock “an interesting value idea for those looking for a contact center derivative,” the firm does not see any catalyst on the horizon that would have the potential to drive a re-rating of the shares, the analyst tells investors.
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Read More on VRNT:
- Verint Stock (NASDAQ:VRNT) Tanks 19% Following Weak Q2 Results; Rating Downgrades
- Verint downgraded to Perform from Outperform at Oppenheimer
- Verint falls 15% to $26.20 after Q2 earnings miss
- Verint backs FY24 EPS view $2.65 at midpoint, consensus $2.65
- Verint reports Q2 adjusted EPS 48c, consensus 57c
