2024-02-15 06:57:22 ET
Summary
- Cognyte Software is benefiting from sales growth, lower fixed and variable costs, and improved backlog conversion, leading to revenue growth.
- The company is making progress in the US market, with significant contract wins from national security and law enforcement entities.
- While the company's execution is strong, they need to keep up with new wins. If they don't, quite high expectations won't be met and the price risks falling.
- The economics are also lumpy due to their end markets, which could create frictions in contract wins.
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Cognyte Software: Still On Perpetual Licenses