Cognyte Software down after weak forecast

COGNYTE SOFTWARE

20/12/2022 12:53

** Shares of security and analytics software provider
Cognyte Software Ltd  CGNT.O  down 5% at $2.23 in premarket
trading
    ** CGNT forecast Q4 revenue between $65 mln and $74 mln,
compared to ests of $84.3 mln, according to Refinitiv data
 urn:newsml:reuters.com:*:nBw95gKp4a
    ** Q3 revenue of $71.3 mln was also below Street's estimate;
co says slow backlog conversion drove a sequential revenue
decline
    ** As of last close, stock fell ~85% this year
 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))