Cognyte Software (NASDAQ:CGNT) Issues Earnings Results

Cognyte Software (NASDAQ:CGNT) released its quarterly earnings results on Tuesday. The medical device company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03, Briefing.com reports. Cognyte Software had a negative return on equity of 5.98% and a negative net margin of 3.70%. The company had revenue of $82.70 million for the quarter, compared to analysts’ expectations of $82.05 million. During the same period in the prior year, the firm earned ($0.25) earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. Cognyte Software updated its FY25 guidance to ($0.07) EPS and its FY 2025 guidance to -0.070–0.070 EPS.

Cognyte Software Trading Down 2.0 %

Shares of NASDAQ:CGNT traded down $0.15 on Thursday, reaching $7.45. 167,853 shares of the company were exchanged, compared to its average volume of 364,702. The company has a 50-day moving average of $7.39 and a 200-day moving average of $7.10. The firm has a market cap of $529.10 million, a price-to-earnings ratio of -44.71 and a beta of 1.74. Cognyte Software has a 1-year low of $4.00 and a 1-year high of $8.70.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CGNT. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a research report on Tuesday. StockNews.com downgraded shares of Cognyte Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 13th. Evercore ISI increased their price target on shares of Cognyte Software from $5.00 to $7.50 and gave the stock an “in-line” rating in a report on Wednesday, April 10th. Finally, Wedbush boosted their target price on Cognyte Software from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC acquired a new position in Cognyte Software during the fourth quarter worth about $37,000. Covestor Ltd purchased a new position in shares of Cognyte Software during the 1st quarter worth approximately $73,000. Russell Investments Group Ltd. lifted its stake in Cognyte Software by 8,624.3% in the 4th quarter. Russell Investments Group Ltd. now owns 20,066 shares of the medical device company’s stock valued at $129,000 after buying an additional 19,836 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Cognyte Software by 56.1% during the 4th quarter. Mackenzie Financial Corp now owns 21,986 shares of the medical device company’s stock valued at $141,000 after buying an additional 7,899 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Cognyte Software during the fourth quarter worth $144,000. 72.92% of the stock is owned by hedge funds and other institutional investors.

Cognyte Software Company Profile

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.