Cognyte Software gains on FY outlook, Q2 beat

COGNYTE SOFTWARE

12/09/2023 13:28

** Shares of security and analytics software provider
Cognyte Software  CGNT.O  rise 12.5% to $5.2 premarket after Q2
results
    ** Stock to hit its highest in nearly a month after markets
open if gains hold 
    ** CGNT reports Q2 rev of $77 mln, beats analysts' estimates
of $76.2 mln - LSEG data
    ** Posts Q2 adj. loss of 9 cents/shr vs expectations of loss
of 22 cents/shr
    ** Co raises midpoint of its FY24 rev outlook range to $307
mln from $303 mln
    ** Now expects FY loss of 33 cents/shr, compared with
previous loss forecast of 53 cents/shr at the midpoint of
revenue outlook
    ** CGNT up 48.5% this year up to last close 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))