Cognyte Software shares rose 9% after the company reported second-quarter results that beat Wall Street expectations. Earnings came in $0.04 per share above estimates, and revenue also topped forecasts, according to the company's release.
The beat suggests demand for Cognyte's security and investigative analytics products held up better than analysts had modeled heading into the quarter. For a company whose stock moves sharply on quarterly prints, a clean beat on both lines removes near-term uncertainty investors had been pricing in.
What's not yet clear is whether management raised guidance for the rest of the year, which would determine whether the rally holds beyond the initial earnings reaction.