Verint Systems reported lower-than-expected fourth-quarter earnings and revenue
Customer experience and artificial intelligence (AI)-related stock Verint Systems Inc (NASDAQ:VRNT) is plummeting to 52-week lows, down 11.4% at $19.15 at last glance, after the company's disappointing fourth-quarter report. Both earnings and revenue missed estimates, while the midpoint of its full-year guidance came in below expectations as well.
Now trading at its lowest levels since November 2023, VRNT is down roughly 30% year-to-date. The equity is trading below all major moving averages, with the 20-day providing pressure before today's bear gap.
In the options pits, Verint Systems stock has already seen 8 times its average daily options volume, albeit amid relatively low absolute numbers. The April 20 put is the most popular, with new positions being bought to open there.
Several analysts have chimed in with price-target cuts, including one from Evercore ISI to $23 from $34. Of the seven analysts in coverage, four carry a "buy" or "strong buy," and three a tepid "hold," while the 12-month consensus price target of $36 sits at an 88.4% premium to current levels.