VRNT
Verint Systems Inc.
$20.51
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Moderate
·
Conviction
Undervalued
Trading 38.8% below fair value
You pay
$20.51
Bear
$28.08
Fair
$33.54
Bull
$39.00
Bear
$28.08
+36.9%
$1.04 × 27x P/E
Fair
$33.54
+63.5%
$1.04 × 32x P/E
Bull
$39.00
+90.2%
$1.04 × 38x P/E
Adjust Assumptions
32.2x
1.04$
Key Value Driver
Normalized P/E multiple (32x base case)
Implied Market Multiple
19.7x
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (16 analysts)
$32.57
Divergence from AlphaVal
3%
Summary
Applying a 32x P/E to adjusted EPS of $1.04, the base-case value is $33.54 per share.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples