Cognyte Software (NASDAQ:CGNT) Announces Quarterly Earnings Results

Key Points

• Cognyte reported $0.10 EPS for the quarter versus a $0.01 consensus and revenue of $106.24M (vs. $106.20M), but remains unprofitable with a negative net margin (-1.45%) and negative ROE (-2.24%).
• Shares opened at $7.88 with a market cap of $575M, trading between a 1‑year low of $6.29 and high of $11.65, and carry a negative trailing P/E (-98.5).
• Analyst sentiment is mixed (2 Buy, 2 Hold, 1 Sell) with a consensus target of $13.50, while institutional investors own about 72.92% of the stock amid recent small hedge fund position changes.

Cognyte Software (NASDAQ:CGNT - Get Free Report) issued its earnings results on Wednesday. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.01 by $0.09, FiscalAI reports. The company had revenue of $106.24 million during the quarter, compared to analysts' expectations of $106.20 million. Cognyte Software had a negative net margin of 1.45% and a negative return on equity of 2.24%.

Cognyte Software Price Performance

Shares of NASDAQ CGNT opened at $7.88 on Wednesday. The company has a 50 day simple moving average of $8.08 and a 200 day simple moving average of $8.48. Cognyte Software has a 1 year low of $6.29 and a 1 year high of $11.65. The firm has a market cap of $575.00 million, a PE ratio of -98.50 and a beta of 1.64.

Wall Street Analysts Forecast Growth

CGNT has been the topic of several analyst reports. Lake Street Capital assumed coverage on shares of Cognyte Software in a research report on Monday, March 2nd. They set a "buy" rating and a $13.00 price target on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Cognyte Software in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised Cognyte Software from a "hold" rating to a "buy" rating in a report on Saturday, December 13th. 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $13.50.

Hedge Funds Weigh In On Cognyte Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in shares of Cognyte Software during the third quarter worth $33,000. Osaic Holdings Inc. increased its holdings in 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 purchasing an additional 1,608 shares during the period. LPL Financial LLC acquired a new stake in Cognyte Software in the fourth quarter valued at $113,000. Aigen Investment Management LP bought a new position in Cognyte Software during the 4th quarter worth $141,000. Finally, Brooklyn Investment Group bought a new position in Cognyte Software during the 4th quarter worth $156,000. 72.92% of the stock is currently owned by institutional investors and hedge funds.

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.

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