Verint price target lowered to $45 from $56 at Wedbush

Wedbush analyst Daniel Ives lowered the firm’s price target on Verint to $45 from $56 and keeps an Outperform rating on the shares. The analyst notes Verint reported earnings that featured a top-line miss with revenues coming in at $225.6 million versus the Street’s $227.7 million estimate as the company continued to battle a difficult FX environment that impacts its international growth while customer spending habits started becoming more cautious with a looming downturn. The company experienced a beat on the bottom-line with EPS coming in at 69c versus the Street’s estimate of 61c, with the company’s FX hedge and cost management tactics used to accelerate earnings faster than its revenue, Ives adds.