Jefferies Lifts Verint Price Target Despite Revenue Shortfall

Published 3 hours agoVRNT

Jefferies Lifts Verint Price Target Despite Revenue Shortfall

Jefferies Financial Group has maintained its 'Hold' rating for Verint Systems while increasing the company's price target from $28 to $34. This adjustment comes after Verint's fourth-quarter earnings report, which showed a revenue shortfall due to delays in significant deals.

As reported by Investing.com, Verint's recent earnings noted a notable revenue shortfall, with a delay in a single large deal contributing $18 million to a total $24 million shortfall. Nevertheless, Verint's Annual Recurring Revenue (ARR) rose by 5% in the fourth quarter, exceeding the anticipated 4% growth.

While Jefferies' elevated price target reflects optimism about Verint's potential, especially in AI-driven customer engagement, the company's stock performance will depend on its ability to close these delayed deals. Investors are closely watching Verint's revenue recognition strategy as it moves into the new fiscal year.

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