Intrinsic value of Verint Systems - VRNT

Previous Close

$39.05

  Intrinsic Value

$56.03

stock screener

  Rating & Target

buy

+43%

  Value-price divergence*

-7%

Previous close

$39.05

 
Intrinsic value

$56.03

 
Up/down potential

+43%

 
Rating

buy

 
Value-price divergence*

-7%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of VRNT stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -6.02
  5.30
  5.27
  5.24
  5.22
  5.20
  5.18
  5.16
  5.14
  5.13
  5.12
  5.10
  5.09
  5.08
  5.08
  5.07
  5.06
  5.06
  5.05
  5.05
  5.04
  5.04
  5.03
  5.03
  5.03
  5.02
  5.02
  5.02
  5.02
  5.02
  5.01
Revenue, $m
  1,062
  1,118
  1,177
  1,239
  1,304
  1,371
  1,442
  1,517
  1,595
  1,677
  1,762
  1,852
  1,947
  2,046
  2,149
  2,258
  2,373
  2,493
  2,619
  2,751
  2,889
  3,035
  3,188
  3,348
  3,516
  3,693
  3,878
  4,073
  4,277
  4,492
  4,717
Variable operating expenses, $m
 
  273
  281
  289
  297
  306
  315
  325
  335
  346
  357
  242
  255
  268
  281
  296
  311
  326
  343
  360
  378
  397
  417
  438
  460
  483
  508
  533
  560
  588
  617
Fixed operating expenses, $m
 
  820
  841
  862
  883
  905
  928
  951
  975
  999
  1,024
  1,050
  1,076
  1,103
  1,130
  1,159
  1,188
  1,217
  1,248
  1,279
  1,311
  1,344
  1,377
  1,412
  1,447
  1,483
  1,520
  1,558
  1,597
  1,637
  1,678
Total operating expenses, $m
  1,045
  1,093
  1,122
  1,151
  1,180
  1,211
  1,243
  1,276
  1,310
  1,345
  1,381
  1,292
  1,331
  1,371
  1,411
  1,455
  1,499
  1,543
  1,591
  1,639
  1,689
  1,741
  1,794
  1,850
  1,907
  1,966
  2,028
  2,091
  2,157
  2,225
  2,295
Operating income, $m
  17
  25
  56
  89
  123
  160
  199
  241
  285
  332
  381
  560
  616
  675
  738
  804
  875
  949
  1,028
  1,112
  1,200
  1,294
  1,393
  1,498
  1,609
  1,726
  1,850
  1,982
  2,120
  2,267
  2,422
EBITDA, $m
  131
  177
  209
  243
  279
  317
  358
  401
  447
  495
  547
  602
  659
  721
  786
  855
  928
  1,005
  1,087
  1,173
  1,265
  1,362
  1,464
  1,573
  1,688
  1,809
  1,937
  2,073
  2,216
  2,367
  2,527
Interest expense (income), $m
  22
  26
  28
  31
  34
  37
  40
  43
  46
  50
  53
  57
  61
  65
  70
  74
  79
  84
  90
  95
  101
  107
  114
  120
  128
  135
  143
  151
  160
  169
  178
Earnings before tax, $m
  -23
  -1
  28
  58
  90
  124
  160
  198
  239
  282
  328
  503
  555
  610
  668
  730
  795
  865
  939
  1,017
  1,099
  1,187
  1,279
  1,378
  1,481
  1,591
  1,708
  1,830
  1,960
  2,098
  2,243
Tax expense, $m
  3
  0
  7
  16
  24
  33
  43
  53
  64
  76
  89
  136
  150
  165
  180
  197
  215
  234
  253
  274
  297
  320
  345
  372
  400
  430
  461
  494
  529
  566
  606
Net income, $m
  -29
  -1
  20
  42
  65
  90
  116
  144
  174
  206
  239
  367
  405
  445
  488
  533
  581
  631
  685
  742
  802
  866
  934
  1,006
  1,081
  1,162
  1,246
  1,336
  1,431
  1,531
  1,638

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  311
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  2,363
  2,159
  2,273
  2,392
  2,517
  2,647
  2,784
  2,928
  3,079
  3,237
  3,402
  3,576
  3,758
  3,949
  4,150
  4,360
  4,581
  4,812
  5,055
  5,310
  5,578
  5,859
  6,154
  6,463
  6,788
  7,129
  7,487
  7,863
  8,257
  8,672
  9,106
Adjusted assets (=assets-cash), $m
  2,052
  2,159
  2,273
  2,392
  2,517
  2,647
  2,784
  2,928
  3,079
  3,237
  3,402
  3,576
  3,758
  3,949
  4,150
  4,360
  4,581
  4,812
  5,055
  5,310
  5,578
  5,859
  6,154
  6,463
  6,788
  7,129
  7,487
  7,863
  8,257
  8,672
  9,106
Revenue / Adjusted assets
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
  0.518
Average production assets, $m
  326
  342
  360
  379
  399
  420
  441
  464
  488
  513
  539
  567
  596
  626
  658
  691
  726
  763
  801
  842
  884
  929
  975
  1,024
  1,076
  1,130
  1,187
  1,246
  1,309
  1,375
  1,443
Working capital, $m
  210
  -101
  -106
  -112
  -117
  -123
  -130
  -137
  -144
  -151
  -159
  -167
  -175
  -184
  -193
  -203
  -214
  -224
  -236
  -248
  -260
  -273
  -287
  -301
  -316
  -332
  -349
  -367
  -385
  -404
  -425
Total debt, $m
  749
  814
  888
  967
  1,049
  1,135
  1,225
  1,320
  1,419
  1,523
  1,632
  1,746
  1,866
  1,992
  2,123
  2,262
  2,407
  2,559
  2,719
  2,887
  3,063
  3,248
  3,442
  3,646
  3,860
  4,084
  4,320
  4,567
  4,826
  5,099
  5,385
Total liabilities, $m
  1,356
  1,421
  1,495
  1,574
  1,656
  1,742
  1,832
  1,927
  2,026
  2,130
  2,239
  2,353
  2,473
  2,599
  2,730
  2,869
  3,014
  3,166
  3,326
  3,494
  3,670
  3,855
  4,049
  4,253
  4,467
  4,691
  4,927
  5,174
  5,433
  5,706
  5,992
Total equity, $m
  1,007
  738
  777
  818
  861
  905
  952
  1,001
  1,053
  1,107
  1,164
  1,223
  1,285
  1,351
  1,419
  1,491
  1,567
  1,646
  1,729
  1,816
  1,908
  2,004
  2,105
  2,210
  2,322
  2,438
  2,561
  2,689
  2,824
  2,966
  3,114
Total liabilities and equity, $m
  2,363
  2,159
  2,272
  2,392
  2,517
  2,647
  2,784
  2,928
  3,079
  3,237
  3,403
  3,576
  3,758
  3,950
  4,149
  4,360
  4,581
  4,812
  5,055
  5,310
  5,578
  5,859
  6,154
  6,463
  6,789
  7,129
  7,488
  7,863
  8,257
  8,672
  9,106
Debt-to-equity ratio
  0.744
  1.100
  1.140
  1.180
  1.220
  1.250
  1.290
  1.320
  1.350
  1.380
  1.400
  1.430
  1.450
  1.470
  1.500
  1.520
  1.540
  1.560
  1.570
  1.590
  1.610
  1.620
  1.640
  1.650
  1.660
  1.680
  1.690
  1.700
  1.710
  1.720
  1.730
Adjusted equity ratio
  0.339
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342
  0.342

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -29
  -1
  20
  42
  65
  90
  116
  144
  174
  206
  239
  367
  405
  445
  488
  533
  581
  631
  685
  742
  802
  866
  934
  1,006
  1,081
  1,162
  1,246
  1,336
  1,431
  1,531
  1,638
Depreciation, amort., depletion, $m
  114
  151
  153
  154
  156
  157
  159
  160
  162
  164
  166
  41
  43
  46
  48
  50
  53
  56
  58
  61
  65
  68
  71
  75
  79
  82
  87
  91
  96
  100
  105
Funds from operations, $m
  187
  151
  173
  196
  221
  247
  275
  305
  336
  370
  405
  409
  449
  491
  536
  583
  634
  687
  744
  804
  867
  934
  1,005
  1,080
  1,160
  1,244
  1,333
  1,427
  1,527
  1,632
  1,743
Change in working capital, $m
  15
  -5
  -5
  -6
  -6
  -6
  -6
  -7
  -7
  -7
  -8
  -8
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -14
  -14
  -15
  -16
  -17
  -18
  -18
  -19
  -20
Cash from operations, $m
  172
  156
  178
  202
  227
  253
  282
  312
  343
  377
  413
  417
  457
  500
  545
  593
  644
  698
  755
  815
  879
  947
  1,019
  1,095
  1,175
  1,260
  1,350
  1,445
  1,545
  1,651
  1,763
Maintenance CAPEX, $m
  0
  -24
  -25
  -26
  -28
  -29
  -31
  -32
  -34
  -36
  -37
  -39
  -41
  -43
  -46
  -48
  -50
  -53
  -56
  -58
  -61
  -65
  -68
  -71
  -75
  -79
  -82
  -87
  -91
  -96
  -100
New CAPEX, $m
  -30
  -17
  -18
  -19
  -20
  -21
  -22
  -23
  -24
  -25
  -26
  -28
  -29
  -30
  -32
  -33
  -35
  -37
  -39
  -40
  -42
  -45
  -47
  -49
  -51
  -54
  -57
  -60
  -63
  -66
  -69
Cash from investing activities, $m
  -156
  -41
  -43
  -45
  -48
  -50
  -53
  -55
  -58
  -61
  -63
  -67
  -70
  -73
  -78
  -81
  -85
  -90
  -95
  -98
  -103
  -110
  -115
  -120
  -126
  -133
  -139
  -147
  -154
  -162
  -169
Free cash flow, $m
  16
  115
  135
  157
  179
  204
  229
  257
  286
  316
  349
  350
  387
  426
  468
  512
  559
  608
  661
  717
  776
  838
  904
  975
  1,049
  1,127
  1,211
  1,299
  1,392
  1,490
  1,594
Issuance/(repayment) of debt, $m
  -3
  70
  75
  78
  82
  86
  90
  95
  99
  104
  109
  114
  120
  126
  132
  138
  145
  152
  160
  168
  176
  185
  194
  204
  214
  224
  236
  247
  260
  273
  286
Issuance/(repurchase) of shares, $m
  -47
  38
  19
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -57
  108
  94
  78
  82
  86
  90
  95
  99
  104
  109
  114
  120
  126
  132
  138
  145
  152
  160
  168
  176
  185
  194
  204
  214
  224
  236
  247
  260
  273
  286
Total cash flow (excl. dividends), $m
  -45
  223
  229
  235
  262
  290
  319
  351
  385
  420
  458
  464
  507
  552
  599
  650
  704
  761
  821
  884
  952
  1,023
  1,098
  1,178
  1,263
  1,352
  1,446
  1,546
  1,651
  1,762
  1,880
Retained Cash Flow (-), $m
  53
  -38
  -39
  -41
  -43
  -45
  -47
  -49
  -52
  -54
  -57
  -59
  -62
  -65
  -69
  -72
  -75
  -79
  -83
  -87
  -92
  -96
  -101
  -106
  -111
  -117
  -122
  -129
  -135
  -142
  -149
Prev. year cash balance distribution, $m
 
  306
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  491
  190
  194
  219
  245
  273
  302
  333
  366
  402
  405
  444
  486
  531
  578
  628
  681
  738
  797
  860
  927
  998
  1,072
  1,152
  1,235
  1,324
  1,417
  1,516
  1,621
  1,731
Discount rate, %
 
  5.30
  5.57
  5.84
  6.14
  6.44
  6.76
  7.10
  7.46
  7.83
  8.22
  8.63
  9.06
  9.52
  9.99
  10.49
  11.02
  11.57
  12.15
  12.76
  13.39
  14.06
  14.77
  15.50
  16.28
  17.09
  17.95
  18.85
  19.79
  20.78
  21.82
PV of cash for distribution, $m
 
  466
  170
  164
  172
  179
  184
  187
  187
  186
  182
  163
  157
  149
  140
  129
  118
  106
  94
  81
  70
  58
  48
  39
  31
  24
  18
  13
  10
  7
  5
Current shareholders' claim on cash, %
  100
  97.8
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7
  96.7

Verint Systems Inc. provides actionable intelligence solutions and value-added services worldwide. Its Enterprise Intelligence Solutions segment provides customer analytics solutions, including speech, text, and engagement analytics, as well as enterprise feedback management, and identity authentication and fraud detection solutions; and engagement management solutions, such as employee desktop, case and knowledge management, email and whitemail management, live chat and co-browse, communities, and social engagement solutions, as well as voice and mobile self-services and Web self-services. This segment also provides workforce optimization solutions comprising quality management, recording, workforce management, and desktop and process analytics, as well as performance management, including scorecards, e-learning, coaching, and gamification. The company’s Cyber Intelligence Solutions segment offers cyber security, network intelligence, off-air intelligence, Web intelligence, fusion intelligence, and lawful interception compliance solutions. Its Video and Situation Intelligence Solutions segment provides situational awareness platform, enterprise video management software, video analytics, edgeVMS, and public safety media recorder solutions. 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 serves government, law enforcement, transportation, critical infrastructure, and commercial organizations, as well as insurance, banking and brokerage, telecommunication, media, retail, travel, and hospitality industries. The company 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. Verint Systems Inc. was founded in 1994 and is headquartered in Melville, New York.

FINANCIAL RATIOS  of  Verint Systems (VRNT)

Valuation Ratios
P/E Ratio -84.1
Price to Sales 2.3
Price to Book 2.4
Price to Tangible Book
Price to Cash Flow 14.2
Price to Free Cash Flow 17.2
Growth Rates
Sales Growth Rate -6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate 6.4%
Financial Strength
Quick Ratio 62
Current Ratio 0
LT Debt to Equity 73.9%
Total Debt to Equity 74.4%
Interest Coverage 0
Management Effectiveness
Return On Assets -0.2%
Ret/ On Assets - 3 Yr. Avg. 1.8%
Return On Total Capital -1.6%
Ret/ On T. Cap. - 3 Yr. Avg. 0.5%
Return On Equity -2.8%
Return On Equity - 3 Yr. Avg. 0.9%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 60.2%
Gross Margin - 3 Yr. Avg. 61.8%
EBITDA Margin 10.6%
EBITDA Margin - 3 Yr. Avg. 12.4%
Operating Margin 1.6%
Oper. Margin - 3 Yr. Avg. 4.5%
Pre-Tax Margin -2.2%
Pre-Tax Margin - 3 Yr. Avg. 0.6%
Net Profit Margin -2.7%
Net Profit Margin - 3 Yr. Avg. 0.5%
Effective Tax Rate -13%
Eff/ Tax Rate - 3 Yr. Avg. -26.7%
Payout Ratio 0%

VRNT stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the VRNT stock intrinsic value calculation we used $1062 million for the last fiscal year's total revenue generated by Verint Systems. The default revenue input number comes from 2017 income statement of Verint Systems. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our VRNT stock valuation model: a) initial revenue growth rate of 5.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.3%, whose default value for VRNT is calculated based on our internal credit rating of Verint Systems, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Verint Systems.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of VRNT stock the variable cost ratio is equal to 25%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $800 million in the base year in the intrinsic value calculation for VRNT stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Verint Systems.

Corporate tax rate of 27% is the nominal tax rate for Verint Systems. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the VRNT stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for VRNT are equal to 30.6%.

Life of production assets of 13.7 years is the average useful life of capital assets used in Verint Systems operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for VRNT is equal to -9%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1007 million for Verint Systems - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 61.316 million for Verint Systems is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Verint Systems at the current share price and the inputted number of shares is $2.4 billion.

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COMPANY NEWS

▶ Verint Systems Inc. (VRNT) Stock Can Secure Your Portfolio   [Aug-11-17 10:03AM  InvestorPlace]
▶ Why Is the Software Market So Hot Right Now?   [Jul-14-17 01:45PM  Zacks]
▶ Verint Presents Awards at Annual EMEA Partner Summit   [Jun-28-17 08:30AM  Business Wire]
▶ Company News for June 09, 2017   [10:23AM  Zacks]
▶ After-hours buzz: GEF, MYL & more   [Jun-07-17 05:37PM  CNBC]
▶ Verint reports 1Q loss   [04:32PM  Associated Press]
▶ Verint Reports First Quarter Results   [04:10PM  Business Wire]
▶ Verint Welcomes 2017 Customer Advisory Board   [May-02-17 08:30AM  Business Wire]
▶ Why Verint Systems Inc. Stock Jumped 14.9% in March   [Apr-12-17 09:00AM  Motley Fool]
▶ US stock indexes close mostly higher; oil up   [04:46PM  Associated Press]
▶ Verint tops Street 4Q forecasts   [04:32PM  Associated Press]
▶ How Adobe Can Plug the Holes in Its Cloud   [Mar-23-17 05:40PM  at TheStreet]
▶ Verint Named to 2017 CRM Watchlist   [Feb-16-17 11:10AM  Business Wire]
▶ 7 Stocks You Should Sell Right Now   [Feb-02-17 09:50AM  at Kiplinger]
Stock chart of VRNT Financial statements of VRNT
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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