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Verint Systems Inc. | $VRNT Stock | Shares Climb Up On Better Than Expected Earnings

|About: Verint Systems Inc. (VRNT)

Verint Systems Inc. (NASDAQ: VRNT)

Verint Systems Inc. (VRNT), a global leader in Actionable Intelligence®solutions and value-added services yesterday reported their second quarter 2017 financial results.

Verint reported adjusted second quarter earnings of $0.61 per share which beat analyst expectations of $0.47 per share. Verint reported adjusted second quarter revenues of $278.2 million which beat analyst expectations of $270.3 million.   

Verint Systems Inc. CEO’s  Comments

“We are pleased with our strong second quarter and first half results, which increase our confidence in achieving our full year outlook in both of our segments,” said Dan Bodner, Verint CEO and President. Bodner continued, “In Customer Engagement, we continue to expand our portfolio, offer our existing customers new solutions and win many new customers. We expect our on-going investments in innovation, such as new automation and artificial intelligence capabilities, will contribute to faster growth in the second half of this year and longer term.” “In Cyber Intelligence, our double digit revenue growth in the first half of the year was driven by demand for data mining solutions to address terrorism, crime, cyber-attacks, and other threats that remain pervasive around the world. We believe ongoing security threats present a long-term growth opportunity for Verint and we continue to invest to meet global customer demand,” Bodner concluded.  Business Wire

VRNT Technical Analysis

VRNT opened trading yesterday at $39.60 which was up from the previous day’s trading close of $39.50. VRNT closed trading yesterday at $39.45 and spiked up after market to $41.75, equivalent to a 6% increase from the closing price. Taking a look at the daily chart we can see the last time VRNT traded above these levels we have to go back to June 28th when it traded at  $41.90.

Taking a closer look at the daily chart we can see that before the spike up VRNT had been in an overall downward trend dating back to June 8th when it traded at $43.45. VRNT has a float of 61.92 million shares and traded 1.64 times the normal daily trading volume on Tuesday.

For trading purposes, I would like to see VRNT open trading on Wednesday above $41.00 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.20 from my entry position fearing anything more than that and the stock would start to fill in the gap up.

Company Profile

Verint Systems Inc. provides actionable intelligence solutions and value-added services worldwide. Its Customer Engagement Solutions segment provides voice of the customer solutions, including interaction analytics, enterprise feedback, and digital feedback; workforce optimization solutions, such as intelligent recording, analytics-driven quality, coaching/learning, workforce management, work allocation, desktop and process analytics, robotic process automation, and performance management; employee engagement solutions comprising workforce optimization, knowledge management, employee desktop, case management, internal communities, gamification, mobile workforce apps, and voice of the employee; engagement channel solutions consisting of Web/mobile self-service, voice self-service, customer communities, email/secure messaging, Web chat, co-browse, mobile messaging, and social engagement; and security, fraud, and compliance solutions, including compliance recording, fraud and identity analytics, trading compliance, branch surveillance and investigation, and public safety compliance.

The company’s Cyber Intelligence Solutions segment offers security and intelligence data mining software solutions, which are used for a range of applications, such as predictive intelligence, advanced and complex investigations, security threat analysis, and electronic data and physical assets protection, as well as for generating legal evidence and preventing criminal activity and terrorism. The company also offers a range of customer services, including implementation and training, consulting and managed, and maintenance support services, as well as mobile device tracking solutions for security applications. It sells its solutions through its direct sales team; and through indirect channels, such as distributors, systems integrators, value-added resellers, and original equipment manufacturer partners. The company was founded in 1994 and is headquartered in Melville, New York.  Yahoo Finance

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.