Cognyte Software (NASDAQ:CGNT) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Cognyte Software (NASDAQ:CGNTGet Free Report) issued its earnings results on Tuesday. The medical device company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03, Briefing.com reports. The business had revenue of $82.70 million for the quarter, compared to analyst estimates of $82.05 million. Cognyte Software had a negative net margin of 3.70% and a negative return on equity of 5.98%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.25) EPS. Cognyte Software updated its FY25 guidance to ($0.07) EPS and its FY 2025 guidance to -0.070–0.070 EPS.

Cognyte Software Stock Performance

CGNT traded down $0.15 during trading on Thursday, reaching $7.45. The stock had a trading volume of 167,853 shares, compared to its average volume of 364,702. The stock has a market cap of $529.10 million, a PE ratio of -44.71 and a beta of 1.74. Cognyte Software has a one year low of $4.00 and a one year high of $8.70. The business has a 50-day moving average of $7.39 and a 200-day moving average of $7.10.

Hedge Funds Weigh In On Cognyte Software

A number of hedge funds have recently modified their holdings of the company. Citigroup Inc. boosted its holdings in Cognyte Software by 3.0% in the third quarter. Citigroup Inc. now owns 138,749 shares of the medical device company’s stock worth $667,000 after acquiring an additional 3,993 shares in the last quarter. Essex Investment Management Co. LLC raised its holdings in shares of Cognyte Software by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 339,452 shares of the medical device company’s stock worth $2,807,000 after acquiring an additional 5,244 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Cognyte Software in the 4th quarter valued at approximately $37,000. Hillsdale Investment Management Inc. raised its holdings in shares of Cognyte Software by 32.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 28,339 shares of the medical device company’s stock worth $182,000 after buying an additional 7,000 shares during the period. Finally, Mackenzie Financial Corp raised its stake in shares of Cognyte Software by 56.1% during the fourth quarter. Mackenzie Financial Corp now owns 21,986 shares of the medical device company’s stock valued at $141,000 after acquiring an additional 7,899 shares in the last quarter. Hedge funds and other institutional investors own 72.92% of the company’s stock.

Analyst Upgrades and Downgrades

CGNT has been the subject of several analyst reports. Evercore ISI boosted their target price on Cognyte Software from $5.00 to $7.50 and gave the stock an “in-line” rating in a research report on Wednesday, April 10th. Wedbush boosted their price target on Cognyte Software from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday. StockNews.com lowered shares of Cognyte Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a research report on Tuesday.

View Our Latest Stock Report on Cognyte Software

About Cognyte Software

(Get Free Report)

Cognyte Software Ltd. provides an investigative analytics software to governments and enterprises worldwide. Its Actionable Intelligence for a Safer World, an open software designed to help governments and enterprises accelerate and enhance the effectiveness of investigations. The company offers network intelligence analytics, threat intelligence analytics, decision intelligence analytics, and operational intelligence analytics solutions.

Further Reading

Earnings History for Cognyte Software (NASDAQ:CGNT)

Receive News & Ratings for Cognyte Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognyte Software and related companies with MarketBeat.com's FREE daily email newsletter.