Cognyte Software (NASDAQ:CGNT) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Cognyte Software (NASDAQ:CGNT) issued its quarterly earnings data on Wednesday. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.09, FiscalAI reports. The company had revenue of $106.24 million during the quarter, compared to the consensus estimate of $106.20 million. Cognyte Software had a negative return on equity of 2.24% and a negative net margin of 1.45%.

Cognyte Software Price Performance

NASDAQ CGNT opened at $7.88 on Wednesday. The stock has a market capitalization of $575.00 million, a P/E ratio of -98.50 and a beta of 1.64. The business has a 50 day simple moving average of $8.08 and a 200 day simple moving average of $8.48. Cognyte Software has a one year low of $6.29 and a one year high of $11.65.

Hedge Funds Weigh In On Cognyte Software

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP bought a new position in shares of Cognyte Software during the 3rd quarter worth approximately $33,000. Osaic Holdings Inc. increased its stake in shares of Cognyte Software by 79.4% in the 2nd quarter. Osaic Holdings Inc. now owns 3,634 shares of the company’s stock valued at $34,000 after acquiring an additional 1,608 shares in the last quarter. LPL Financial LLC acquired a new position in shares of Cognyte Software during the 4th quarter valued at $113,000. Aigen Investment Management LP acquired a new position in shares of Cognyte Software during the 4th quarter valued at $141,000. Finally, Brooklyn Investment Group acquired a new position in shares of Cognyte Software during the 4th quarter valued at $156,000. 72.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CGNT has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognyte Software in a report on Wednesday, January 21st. Lake Street Capital assumed coverage on shares of Cognyte Software in a research report on Monday, March 2nd. They issued a “buy” rating and a $13.00 price target on the stock. Finally, Wall Street Zen raised shares of Cognyte Software from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.50.

Cognyte Software Company Profile

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.