Cognyte Software (NASDAQ:CGNT) Issues Q3 2022 Earnings Guidance

Cognyte Software (NASDAQ:CGNT) issued an update on its third quarter 2022 earnings guidance on Monday morning. The company provided EPS guidance of $0.100-$0.100 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.190. The company issued revenue guidance of $112 million-$117 million, compared to the consensus revenue estimate of $123.93 million.Cognyte Software also updated its FY 2022 guidance to $0.820-$0.820 EPS.

NASDAQ:CGNT opened at $21.40 on Monday. The firm has a market cap of $1.41 billion and a PE ratio of 20.78. Cognyte Software has a 12 month low of $21.36 and a 12 month high of $38.00. The company’s 50-day moving average price is $26.39 and its two-hundred day moving average price is $25.72.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings results on Monday, September 20th. The medical device company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.01. The firm had revenue of $116.00 million during the quarter, compared to analyst estimates of $115.55 million. The business’s revenue was down .3% compared to the same quarter last year. Analysts expect that Cognyte Software will post 0.08 earnings per share for the current fiscal year.

CGNT has been the topic of a number of research reports. Needham & Company LLC initiated coverage on shares of Cognyte Software in a research report on Thursday, July 15th. They set a buy rating and a $36.00 target price on the stock. William Blair started coverage on shares of Cognyte Software in a report on Monday, July 26th. They issued an outperform rating and a $24.33 price objective on the stock. Zacks Investment Research upgraded shares of Cognyte Software from a hold rating to a buy rating and set a $25.00 price objective on the stock in a report on Friday. Finally, Wedbush cut their price objective on shares of Cognyte Software from $40.00 to $32.00 and set an in-line rating on the stock in a report on Tuesday, September 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Buy and an average price target of $33.22.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada bought a new position in Cognyte Software during the second quarter worth about $84,000. Wells Fargo & Company MN bought a new position in Cognyte Software in the 2nd quarter valued at about $513,000. Finally, Morgan Stanley bought a new position in Cognyte Software in the 2nd quarter valued at about $2,400,000. Institutional investors own 87.78% of the company’s stock.

About Cognyte Software

Cognyte Software Ltd. provides security analytics software to governments and enterprises worldwide. The company's open software fuses, analyzes, and visualizes disparate data sets for security organizations. It offers investigative analytics, operational intelligence analytics, and threat intelligence analytics solutions.

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Earnings History and Estimates for Cognyte Software (NASDAQ:CGNT)

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