Verint Sees Slowing Customer Activity Amid SaaS Transition

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Verint Systems ($NASDAQ:VRNT), a provider of customer engagement and security intelligence solutions, has seen slowing customer activity as its transition to Software as a Service (SaaS) continues. Verint Systems is a global leader in actionable intelligence solutions that enable organizations to make timely, fact-based decisions in order to improve customer engagement, reduce risk and ensure compliance. Over the past two years, Verint has been transitioning from an on-premise software model to a SaaS model, which has resulted in a number of benefits such as improved scalability and cost savings.

As the transition continues, customer activity for Verint has slowed down somewhat due to the fluid nature of the transition process and the need for organizations to adjust to the new platform. Despite the slowdown, Verint remains confident in its long-term prospects as it continues to position itself for success in an ever-evolving industry.

Price History

On Monday, VERINT SYSTEMS stock experienced a dip in activity, opening at $37.2 and closing at $36.8, a decrease of 1.8% from the previous day’s closing price of 37.5. This decline in activity appears to be related to the company’s transition to a more cloud-focused software-as-a-service (SaaS) model. An increased investment in SaaS has caused customer activity to slow, leading to decreased stock prices. Further information on the company’s transition is expected to follow in upcoming investor updates. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Verint Systems. More…

Cash Flow Snapshot

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Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Verint Systems. More…

Key Ratios Snapshot

Some of the financial key ratios for Verint Systems are shown below. More…

Analysis

At GoodWhale, we believe that analyzing a company’s fundamentals is essential for investors to make informed decisions. After carefully examining Verint Systems‘ financials, our Risk Rating team concluded that it is a high risk investment, with 2 red flags detected in both the income sheet and balance sheet. To help our users make the best investments, we provide detailed reports on each company we review. If you are a registered GoodWhale user, you can access our detailed report on Verint Systems and learn more about the risks involved in investing in this company. More…

Peers

Headquartered in Melville, New York, the company employs more than 10,000 people worldwide. Its competitors include SysGroup PLC, Coveo Solutions Inc, ECSC Group PLC.

– SysGroup PLC ($LSE:SYS)

PLC is a global provider of integrated communications and collaboration solutions, with a market cap of 10.13M as of 2022. PLC’s Return on Equity (ROE) is 2.07%. PLC’s products and services enable businesses and organizations to communicate and collaborate more effectively.

– Coveo Solutions Inc ($TSX:CVO)

Coveo is a company that provides search and analytics tools that help organizations make better decisions and drive better results. The company has a market cap of 549.37M as of 2022 and a ROE of 59.41%. Coveo’s products and services enable organizations to connect with their customers and employees in a more meaningful way, and to make better decisions that drive better results. The company’s mission is to help organizations reach their full potential by harnessing the power of information.

– ECSC Group PLC ($LSE:ECSC)

ESSC Group PLC is a leading provider of energy services and solutions. The company has a market cap of 2.4M and a ROE of 452.76%. ESSC Group PLC provides a full range of energy services and solutions to businesses and households across the UK. The company offers a wide range of services including energy procurement, energy management, renewable energy solutions, and carbon management.

Summary

Verint Systems is a technology company that specializes in providing customer engagement analytics, security intelligence, and fraud, risk, and compliance solutions. Recently, the company has been transitioning from software-as-a-service to cloud-based models and as a result, their customer activity has been slowing down. With their innovative product lineup and increasing customer base, Verint is well-positioned to remain profitable in the long-term.