Cognyte Software Ltd. (NASDAQ:CGNT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Cognyte Software Ltd. (NASDAQ:CGNT) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $13.50.

A number of equities analysts have recently weighed in on CGNT shares. Zacks Research downgraded shares of Cognyte Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Lake Street Capital started coverage on shares of Cognyte Software in a research note on Monday, March 2nd. They issued a “buy” rating and a $13.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Cognyte Software from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th.

Cognyte Software Stock Performance

NASDAQ CGNT opened at $8.86 on Wednesday. Cognyte Software has a 1-year low of $6.29 and a 1-year high of $12.31. The company has a market capitalization of $647.49 million, a PE ratio of -221.50 and a beta of 1.64. The firm’s fifty day simple moving average is $9.73 and its 200-day simple moving average is $8.94.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings results on Wednesday, June 3rd. The company reported $0.03 earnings per share 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 company had revenue of $105.49 million during the quarter, compared to analyst estimates of $105.04 million. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. As a group, analysts predict that Cognyte Software will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Cognyte Software

Several hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC acquired a new position in Cognyte Software during the first quarter worth $94,000. Bank of America Corp DE increased its position in Cognyte Software by 37.7% during the first quarter. Bank of America Corp DE now owns 296,769 shares of the company’s stock worth $2,404,000 after buying an additional 81,254 shares during the last quarter. Entropy Technologies LP acquired a new position in Cognyte Software during the first quarter worth $107,000. Sei Investments Co. increased its position in Cognyte Software by 22.0% during the first quarter. Sei Investments Co. now owns 158,907 shares of the company’s stock worth $1,287,000 after buying an additional 28,638 shares during the last quarter. Finally, Bastion Asset Management Inc. acquired a new position in Cognyte Software during the first quarter worth $1,615,000. 72.92% of the stock is owned by institutional investors and hedge funds.

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.