Key Takeaways From Verint Systems’ Investor Day

RBC Capital analysts provided their key takeaways from Verint Systems Inc. (NASDAQ:VRNT) investor day, which did a good job at highlighting the strategy of closing the engagement capacity gap, platform differentiation, Da Vinci AI and Analytics, and reviewing the financial model.
According to the analysts, the company continues to track ahead of the three-year plan and 30% cloud CAGR target with cloud growth of 37% last year and this year’s growth target recently raised to 32-34% from 30-32% previously.
The analysts also emphasized the commentary on gross margins, with recurring revenue (73% of total) having gross margins of 76% and non-recurring revenue (27% of total) having gross margins of 50%. The company expects gross margins to increase modestly over the next several years and then more markedly as recurring revenue crosses 90% of total revenue at which point they should be in the mid-70s.
The analysts maintained their Outperform rating and $61 price target on the company’s shares.

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