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Fly News Breaks for December 3, 2015
VRNT
Dec 3, 2015 | 06:31 EDT
Credit Suisse downgraded Verint to Neutral and lowered its price target to $45 from $60 on shares. Analyst Michael Nemeroff said Verint's Q3 revenue missed consensus and management guided Q4 down further and provided preliminary FY17 revenue growth of just 5%, below the Street's estimate of 9%. Nemeroff believes headwinds are more structural and shares will not outperform in the near-term as it could take several quarters for the company to re-work its product mix and go-to-market strategy.
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