Cognyte Software Ltd. (CGNT) is gearing up to unveil its second-quarter earnings results on Tuesday, Sept. 10, before the opening bell. Wall Street analysts are predicting a loss of 2 cents per share for the quarter, which would be a significant improvement compared to the 9-cent loss reported in the same period last year.
The Herzliya, Israel-based company is also expected to post revenue of $83.69 million, according to data from Benzinga Pro. This projection reflects the continued growth in Cognyte’s core business, following a strong first quarter. In June, the company reported a 12.9% year-over-year increase in sales for the first quarter of fiscal 2025, reaching $82.714 million. This figure exceeded the consensus estimate of $82.046 million.
Shares of Cognyte Software gained 0.8% to close at $7.44 on Monday. As investors anticipate the upcoming earnings report, it’s worth taking a look at what some of the most-accurate analysts are predicting for the company.
Wedbush analyst Daniel Ives maintained a Neutral rating on Cognyte Software and raised the price target from $8 to $9 on June 20. This analyst has a track record of accuracy at 75%. Needham analyst Mike Cikos reiterated a Hold rating on June 18, with an accuracy rate of 66%. Meanwhile, Evercore ISI Group analyst Kirk Materne kept an In-Line rating and increased the price target from $5 to $7.5 on April 10. This analyst has an accuracy rate of 67%.
As investors weigh the potential of Cognyte Software, these analyst ratings provide valuable insights into the market sentiment surrounding the company. The upcoming earnings report will likely offer further clarity on Cognyte’s performance and future prospects.
