Cognyte Software (NASDAQ:CGNT) Shares Gap Up Following Earnings Beat

Cognyte Software Ltd. (NASDAQ:CGNT)’s stock price gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $8.97, but opened at $9.38. Cognyte Software shares last traded at $9.60, with a volume of 256,644 shares changing hands.

The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. The firm had revenue of $100.74 million for the quarter, compared to the consensus estimate of $99.58 million. Cognyte Software had a negative net margin of 1.45% and a negative return on equity of 2.26%. Cognyte Software has set its FY 2026 guidance at 0.240-0.240 EPS.

Analyst Ratings Changes

A number of research analysts recently issued reports on CGNT shares. Roth Capital initiated coverage on shares of Cognyte Software in a research note on Friday, October 3rd. They issued a “buy” rating and a $14.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognyte Software in a research note on Wednesday, October 8th. Zacks Research raised Cognyte Software to a “hold” rating in a report on Monday, October 6th. Finally, Wall Street Zen downgraded Cognyte Software from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Cognyte Software presently has an average rating of “Hold” and a consensus price target of $14.00.

Hedge Funds Weigh In On Cognyte Software

Several large investors have recently modified their holdings of CGNT. Driehaus Capital Management LLC bought a new stake in shares of Cognyte Software in the first quarter worth $4,495,000. Millennium Management LLC raised its position in Cognyte Software by 101.9% during the 1st quarter. Millennium Management LLC now owns 921,853 shares of the company’s stock worth $7,190,000 after purchasing an additional 465,307 shares during the last quarter. Marshall Wace LLP lifted its holdings in Cognyte Software by 77.5% during the 2nd quarter. Marshall Wace LLP now owns 756,876 shares of the company’s stock worth $6,994,000 after buying an additional 330,569 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Cognyte Software by 49.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 840,735 shares of the company’s stock valued at $7,768,000 after buying an additional 277,730 shares during the last quarter. Finally, G2 Investment Partners Management LLC acquired a new stake in shares of Cognyte Software in the second quarter valued at about $2,460,000. Institutional investors own 72.92% of the company’s stock.

Cognyte Software Stock Down 0.2%

The firm has a 50 day moving average price of $8.41 and a two-hundred day moving average price of $8.90. The company has a market cap of $707.81 million, a price-to-earnings ratio of -121.25 and a beta of 1.63.

Cognyte Software Company Profile

Cognyte Software Ltd. provides an investigative analytics software to governments and enterprises worldwide. Its Actionable Intelligence for a Safer World, an open software designed to help governments and enterprises accelerate and enhance the effectiveness of investigations. The company offers network intelligence analytics, threat intelligence analytics, decision intelligence analytics, and operational intelligence analytics solutions.