Cognyte Software (CGNT) Surges 9.0%: Is This an Indication of Further Gains?

Cognyte Software Ltd. CGNT shares ended the last trading session 9% higher at $8.13. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.8% gain over the past four weeks.Cognyte Software is benefitting from a follow-on order exceeding $2 million from a North American law enforcement agency, highlighting growing trust in its investigative analytics technology to enhance operational intelligence and community safety.This company is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of -102.9%. Revenues are expected to be $86.8 million, up 9.3% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in 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 last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CGNT going forward to see if this recent jump can turn into more strength down the road.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 industry, closed the last trading session 5.7% higher at $14.72. ASAN has returned 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 year-ago EPS, this represents a change of -75%. Asana currently boasts a Zacks Rank of #3 (Hold).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cognyte Software Ltd. (CGNT): Free Stock Analysis Report Asana, Inc. (ASAN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks