UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on Verint Systems on Strong F2Q15 Outperformance

In a report published Friday, Credit Suisse analyst Michael Nemeroff reiterated an Outperform rating on

, and raised the price target from $57.00 to $59.00. In the report, Credit Suisse noted, “F2Q15 non-GAAP revenue of $284.7M (+27.8% yr/yr) was well above Street of $270.9M (+21.6%) driven by Enterprise Intelligence revs of $168.5M (+33.7% yr/yr) and Security Intelligence revs of $116.2M (+20.1% yr/yr); EPS of $0.72 was also well above Street of $0.60. Mgmt. raised F2015 revenue guidance by $15M to $1.125-$1.175B (+23.6-29.1% yr/yr) from $1.110-$1.160B (+22.0-27.5% yr/yr) vs Street of $1.137B (+25.0%). F2015 EPS guide was also increased to $3.35-$3.50 from $3.26-$3.46, vs Street of $3.39 despite the ~$0.05 dilution from its recent equity offering. We increase our F2015 / F2016 EPS to $3.45 / $3.75 from $3.39 / $3.66 and raise TP to $59 (from $57).” Verint Systems closed on Thursday at $51.10.