Cognyte Software rises on upbeat FY 2024 rev forecast

COGNYTE SOFTWARE

11/04/2023 13:59

** Shares of security and analytics software provider
Cognyte Software Ltd  CGNT.O  up ~10% to $3.75 premarket
    ** Co forecasts FY 2024 revenue above Wall Street estimates
on winning large deals and increase backlog, driving improved
visibility
    ** Expects revenue of $300 mln, compared to estimates of
$287.5 mln, according to Refinitiv data
    ** Sees annual loss of 60 cents per share vs analyst
estimates of a loss of 69 cents per share
    ** CGNT also beats Q4 revenue expectations and reported
smaller-than-expected loss
    ** Up to Monday's close, stock had risen 9.7% YTD

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))