Cognyte Software (NASDAQ:CGNT) Issues FY 2027 Earnings Guidance

Cognyte Software (NASDAQ:CGNT) updated its FY 2027 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.470-0.470 for the period, compared to the consensus earnings per share estimate of 0.410. The company issued revenue guidance of $434.6 million-$461.4 million, compared to the consensus revenue estimate of $446.4 million.

Cognyte Software Stock Down 20.1%

NASDAQ CGNT traded down $2.34 during trading hours on Wednesday, reaching $9.28. The company’s stock had a trading volume of 1,690,351 shares, compared to its average volume of 519,303. The firm’s 50-day moving average price is $9.51 and its 200-day moving average price is $8.88. Cognyte Software has a 1 year low of $6.29 and a 1 year high of $12.31. The company has a market capitalization of $678.18 million, a price-to-earnings ratio of -928.00 and a beta of 1.64.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings data on Wednesday, June 3rd. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). The business had revenue of $105.49 million during the quarter, compared to analyst estimates of $105.04 million. Cognyte Software had a positive return on equity of 0.74% and a negative net margin of 0.16%.Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. Equities research analysts anticipate that Cognyte Software will post 0.17 EPS for the current fiscal year.

Analyst Ratings Changes

CGNT has been the topic of a number of analyst reports. Wall Street Zen cut Cognyte Software from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research lowered Cognyte Software from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Lake Street Capital assumed coverage on shares of Cognyte Software in a research note on Monday, March 2nd. They set a “buy” rating and a $13.00 target price for the company. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.50.

Institutional Investors Weigh In On Cognyte Software

Several hedge funds have recently made changes to their positions in the company. Vident Advisory LLC lifted its position in shares of Cognyte Software by 2.6% in the 4th quarter. Vident Advisory LLC now owns 88,648 shares of the company’s stock valued at $833,000 after acquiring an additional 2,225 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Cognyte Software during the fourth quarter worth $887,000. Susquehanna Fundamental Investments LLC acquired a new position in Cognyte Software during the 4th quarter worth $551,000. Millennium Management LLC grew its position in shares of Cognyte Software by 38.4% during the 4th quarter. Millennium Management LLC now owns 295,818 shares of the company’s stock worth $2,781,000 after buying an additional 82,119 shares during the period. Finally, Man Group plc acquired a new stake in Cognyte Software during the 4th quarter worth approximately $566,000. Hedge funds and other institutional investors own 72.92% of the company’s stock.

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.