Cognyte Software (NASDAQ:CGNT) Upgraded at Wall Street Zen
by Kim Johansen · The Markets DailyWall Street Zen upgraded shares of Cognyte Software (NASDAQ:CGNT – Free Report) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.
CGNT has been the topic of several other research reports. Lake Street Capital initiated coverage on shares of Cognyte Software in a research report on Monday, March 2nd. They set a “buy” rating and a $13.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cognyte Software in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.50.
Check Out Our Latest Stock Report on Cognyte Software
Cognyte Software Price Performance
CGNT opened at $7.93 on Friday. The company’s 50-day moving average is $7.99 and its 200 day moving average is $8.46. Cognyte Software has a fifty-two week low of $6.29 and a fifty-two week high of $11.65. The firm has a market capitalization of $579.52 million, a P/E ratio of -793.00 and a beta of 1.64.
Cognyte Software (NASDAQ:CGNT – Get Free Report) last released its quarterly earnings results on Wednesday, March 25th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.09. Cognyte Software had a negative net margin of 0.16% and a positive return on equity of 0.74%. The business had revenue of $106.24 million for the quarter, compared to analysts’ expectations of $106.20 million. On average, equities research analysts expect that Cognyte Software will post -0.2 earnings per share for the current year.
Institutional Trading of Cognyte Software
Hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its position in shares of Cognyte Software by 79.4% during the 2nd quarter. Osaic Holdings Inc. now owns 3,634 shares of the company’s stock valued at $34,000 after acquiring an additional 1,608 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of Cognyte Software by 1.9% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 94,944 shares of the company’s stock worth $798,000 after purchasing an additional 1,738 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Cognyte Software by 16.0% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 13,398 shares of the company’s stock worth $113,000 after purchasing an additional 1,849 shares during the period. Vident Advisory LLC lifted its stake in Cognyte Software by 2.6% in the fourth quarter. Vident Advisory LLC now owns 88,648 shares of the company’s stock valued at $833,000 after purchasing an additional 2,225 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Cognyte Software by 2.2% in the second quarter. Sei Investments Co. now owns 140,882 shares of the company’s stock valued at $1,302,000 after purchasing an additional 2,988 shares during the last quarter. Institutional investors own 72.92% of the company’s stock.
About Cognyte Software
Cognyte Software Ltd. is a global provider of security analytics solutions that was spun off from NICE Ltd. in early 2021. Headquartered in Israel, the company delivers specialized software and services designed to help government agencies, law enforcement organizations and critical infrastructure operators process and analyze large volumes of data for intelligence and investigative purposes.
The company’s core offerings include advanced analytics platforms that aggregate and visualize structured and unstructured data from diverse sources, such as communications metadata, open-source intelligence and sensor feeds.