Cognyte Software (NASDAQ:CGNT) Issues Earnings Results

Cognyte Software (NASDAQ:CGNT) issued its quarterly earnings data on Tuesday. The medical device company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03, Briefing.com reports. Cognyte Software had a negative net margin of 3.70% and a negative return on equity of 5.98%. The business had revenue of $82.70 million during the quarter, compared to the consensus estimate of $82.05 million. During the same quarter in the prior year, the firm posted ($0.25) earnings per share. The company’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 Stock Performance

Shares of CGNT stock opened at $7.60 on Thursday. Cognyte Software has a fifty-two week low of $4.00 and a fifty-two week high of $8.70. The stock’s fifty day moving average is $7.38 and its two-hundred day moving average is $7.10.

Institutional Investors Weigh In On Cognyte Software

A number of large investors have recently modified their holdings of the business. Tidal Investments LLC purchased a new stake in Cognyte Software during the 1st quarter valued at about $515,000. Quadrature Capital Ltd grew its position in shares of Cognyte Software by 111.0% in the first quarter. Quadrature Capital Ltd now owns 47,174 shares of the medical device company’s stock valued at $391,000 after purchasing an additional 24,820 shares in the last quarter. Covestor Ltd purchased a new stake in shares of Cognyte Software in the first quarter valued at approximately $73,000. Acadian Asset Management LLC increased its holdings in shares of Cognyte Software by 30.3% in the first quarter. Acadian Asset Management LLC now owns 2,304,970 shares of the medical device company’s stock valued at $19,041,000 after purchasing an additional 536,393 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its position in Cognyte Software by 446.6% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 34,870 shares of the medical device company’s stock worth $288,000 after buying an additional 28,490 shares in the last quarter. Hedge funds and other institutional investors own 72.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CGNT shares. StockNews.com cut Cognyte Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 13th. Wedbush upped their target price on Cognyte Software from $5.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Needham & Company LLC reissued a “hold” rating on shares of Cognyte Software in a research note on Tuesday. Finally, Evercore ISI raised their price target on shares of Cognyte Software from $5.00 to $7.50 and gave the company an “in-line” rating in a research note on Wednesday, April 10th.

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.