Cognyte Software Ltd. CGNT shares ended the last trading session 9% higher at $8.13. The jump came on impressive volume, with a higher-than-average number of shares changing hands during the session. This compares to the stock’s 11.8% gain over the past four weeks.
Cognyte Software benefits from a follow-on order of more than $2 million from a North American law enforcement agency, highlighting growing confidence in its investigative analytics technology to improve operational intelligence and community safety.
This company is expected to post a quarterly loss of $0.01 per share in its upcoming report, representing a year-over-year change of -102.9%. Revenue is expected to be $86.8 million, up 9.3% from the same quarter last year.
While earnings and revenue growth expectations are important in assessing the potential strength of a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Cognyte Software, the consensus EPS estimate for the quarter has remained unchanged over the past 30 days. And a stock’s price typically doesn’t continue to rise if there’s no trend in earnings estimate revisions. So be sure to keep an eye on CGNT going forward to see if this recent jump can turn into more strength in the long run.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
Cognyte Software is part of the Zacks Internet – Software industry. Asana, Inc. ASAN, another stock in the same sector, closed 5.7% higher at $14.72 in the last trading session. ASAN has achieved a return of 18.5% in the past month.
Asana’s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.07. Compared to the company’s earnings per share a year ago, this represents a change of -75%. Asana currently has a Zacks Rank of #3 (Hold).
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