Cognyte Software (NASDAQ:CGNT) Lowered to Hold Rating by Wall Street Zen

Cognyte Software (NASDAQ:CGNT) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other analysts have also issued reports on the company. Lake Street Capital assumed coverage on Cognyte Software in a research report on Monday, March 2nd. They set a “buy” rating and a $13.00 target price on the stock. Zacks Research lowered Cognyte Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.50.

Cognyte Software Stock Performance

Shares of NASDAQ CGNT opened at $8.99 on Friday. Cognyte Software has a 1 year low of $6.29 and a 1 year high of $12.31. The firm has a market cap of $656.99 million, a price-to-earnings ratio of -224.75 and a beta of 1.64. The stock’s 50-day simple moving average is $9.64 and its 200-day simple moving average is $8.91.

Cognyte Software (NASDAQ:CGNT) last announced its earnings results on Wednesday, June 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Cognyte Software had a negative return on equity of 0.45% and a negative net margin of 0.66%.The business had revenue of $105.49 million for the quarter, compared to analysts’ expectations of $105.04 million. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. As a group, research analysts predict that Cognyte Software will post 0.17 EPS for the current year.

Institutional Trading of Cognyte Software

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. increased its holdings in Cognyte Software by 1,478.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,268 shares of the company’s stock valued at $31,000 after buying an additional 3,061 shares during the last quarter. Osaic Holdings Inc. increased its holdings in Cognyte Software by 79.4% in the second quarter. Osaic Holdings Inc. now owns 3,634 shares of the company’s stock valued at $34,000 after buying an additional 1,608 shares during the last quarter. Quarry LP bought a new stake in Cognyte Software in the third quarter valued at about $33,000. FourThought Financial Partners LLC bought a new stake in Cognyte Software in the fourth quarter valued at about $95,000. Finally, NewEdge Advisors LLC bought a new stake in Cognyte Software in the first quarter valued at about $94,000. 72.92% of the stock is owned by institutional investors.

Cognyte Software Company Profile

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.