Key Takeaways From Verint Systems’ Investor Day
<p>RBC Capital analysts provided their key takeaways from <a href='https://financialmodelingprep.com/financial-summary/VRNT'>Verint Systems Inc. (NASDAQ:VRNT)</a> 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. </p>
<p>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.</p>
<p>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.</p>
<p>The analysts maintained their Outperform rating and $61 price target on the company’s shares.</p>

NASDAQ:VRNT