FY2023 EPS Estimates for Cognyte Software Ltd. (NASDAQ:CGNT) Decreased by Analyst

Cognyte Software Ltd. (NASDAQ:CGNT) – Research analysts at William Blair cut their FY2023 EPS estimates for shares of Cognyte Software in a note issued to investors on Monday, September 20th. William Blair analyst L. Dipalma now anticipates that the medical device company will earn $0.41 per share for the year, down from their previous forecast of $0.43. William Blair has a “Outperform” rating and a $24.33 price objective on the stock.

Several other brokerages also recently issued reports on CGNT. Wedbush reduced their price objective on Cognyte Software from $40.00 to $32.00 and set an “in-line” rating on the stock in a research report on Tuesday. Zacks Investment Research upgraded Cognyte Software from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Friday. Finally, Needham & Company LLC started coverage on Cognyte Software in a report on Thursday, July 15th. They issued a “buy” rating and a $36.00 price target for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $33.22.

CGNT opened at $21.40 on Thursday. Cognyte Software has a one year low of $21.36 and a one year high of $38.00. The business’s fifty day moving average is $26.39 and its two-hundred day moving average is $25.79. The company has a market cap of $1.41 billion and a price-to-earnings ratio of 20.78.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings results on Monday, September 20th. The medical device company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.01. The business had revenue of $116.00 million during the quarter, compared to analysts’ expectations of $115.55 million. The business’s revenue was down .3% compared to the same quarter last year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGNT. New South Capital Management Inc. purchased a new stake in shares of Cognyte Software during the second quarter worth $25,561,000. Oak Associates Ltd. OH bought a new position in Cognyte Software during the second quarter valued at about $1,075,000. Westfield Capital Management Co. LP bought a new position in Cognyte Software during the second quarter valued at about $28,364,000. Pragma Gestao DE Patrimonio Ltd. bought a new position in Cognyte Software during the second quarter valued at about $3,112,000. Finally, abrdn plc bought a new position in shares of Cognyte Software in the second quarter worth about $29,151,000. 87.78% of the stock is owned by institutional investors and hedge funds.

Cognyte Software Company Profile

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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