Cognyte Software (NASDAQ:CGNT) Announces Earnings Results, Misses Estimates By $0.07 EPS

Cognyte Software (NASDAQ:CGNTGet Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07), FiscalAI reports. Cognyte Software had a positive return on equity of 0.74% and a negative net margin of 0.16%.The business had revenue of $105.49 million for the quarter, compared to the consensus estimate of $105.04 million.

Cognyte Software Trading Down 5.1%

Cognyte Software stock opened at $11.62 on Wednesday. Cognyte Software has a 12 month low of $6.29 and a 12 month high of $12.31. The stock’s 50 day moving average is $9.51 and its 200-day moving average is $8.88. The company has a market capitalization of $849.19 million, a price-to-earnings ratio of -1,162.00 and a beta of 1.64.

Hedge Funds Weigh In On Cognyte Software

Institutional investors and hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. boosted its stake in shares of Cognyte Software by 79.4% in the second quarter. Osaic Holdings Inc. now owns 3,634 shares of the company’s stock valued at $34,000 after buying an additional 1,608 shares during the period. Vident Advisory LLC boosted its stake in shares of Cognyte Software by 2.6% in the fourth quarter. Vident Advisory LLC now owns 88,648 shares of the company’s stock valued at $833,000 after buying an additional 2,225 shares during the period. Sei Investments Co. boosted its stake in shares of Cognyte Software by 2.2% in the second quarter. Sei Investments Co. now owns 140,882 shares of the company’s stock valued at $1,302,000 after buying an additional 2,988 shares during the period. HRT Financial LP boosted its stake in shares of Cognyte Software by 2.4% in the fourth quarter. HRT Financial LP now owns 133,055 shares of the company’s stock valued at $1,250,000 after buying an additional 3,181 shares during the period. Finally, Quarry LP bought a new stake in shares of Cognyte Software in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 72.92% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CGNT. Lake Street Capital began coverage on Cognyte Software in a research report on Monday, March 2nd. They issued a “buy” rating and a $13.00 target price on the stock. Zacks Research downgraded Cognyte Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen downgraded Cognyte Software from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.50.

Check Out Our Latest Report on CGNT

Cognyte Software Company Profile

(Get Free Report)

Cognyte Software Ltd. is a global provider of security analytics solutions that was spun off from NICE Ltd. in early 2021. Headquartered in Israel, the company delivers specialized software and services designed to help government agencies, law enforcement organizations and critical infrastructure operators process and analyze large volumes of data for intelligence and investigative purposes.

The company’s core offerings include advanced analytics platforms that aggregate and visualize structured and unstructured data from diverse sources, such as communications metadata, open-source intelligence and sensor feeds.

Further Reading

Earnings History for Cognyte Software (NASDAQ:CGNT)

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