Cognyte Clocks 15.4% Dip In Q1 Revenues, Raises 2024 Outlook
Portfolio Pulse from Nabaparna Bhattacharya
Cognyte Software reported a 15.4% YoY decline in Q1 FY24 adjusted sales to $73.38 million, beating the consensus of $71.46 million. The company raised its FY24 outlook, expecting revenue of $303 million and a loss of $(0.53). CGNT shares are trading higher by 5.92% at $5.90 in premarket.
June 15, 2023 | 2:23 pm
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Cognyte Software's Q1 FY24 adjusted sales declined 15.4% YoY but beat consensus estimates. The company raised its FY24 outlook, and shares are up 5.92% in premarket trading.
Cognyte Software reported better-than-expected Q1 FY24 adjusted sales and raised its FY24 outlook, which is a positive sign for the company's future performance. This news is likely to boost investor confidence, resulting in a short-term positive impact on the stock price, as evidenced by the 5.92% increase in premarket trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100