Wedbush lowered the firm’s price target on Verint to $35 from $45 and keeps an Outperform rating on the shares. The firm notes Verint delivered weaker than expected Q2 results, featuring misses on the top and bottom lines with revenue coming in at $210.1M, well below the Street’s $225.1M estimate, with SaaS revenue increasing 10% year-over-year, a major slowdown from the prior quarter due to deals slipping out of the quarter with elongated sales cycles persisting.
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- Verint Stock (NASDAQ:VRNT) Tanks 19% Following Weak Q2 Results; Rating Downgrades
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