Cognyte Software (NASDAQ:CGNT) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Cognyte Software Ltd. (NASDAQ:CGNT)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.88 and traded as high as $9.17. Cognyte Software shares last traded at $9.04, with a volume of 512,981 shares.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Zacks Research cut shares of Cognyte Software from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 24th. Wall Street Zen cut shares of Cognyte Software from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.50.

Cognyte Software Price Performance

The stock has a 50-day simple moving average of $9.47 and a 200 day simple moving average of $8.88. The company has a market capitalization of $660.63 million, a PE ratio of -226.00 and a beta of 1.68.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings results on Wednesday, June 3rd. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.07). The business had revenue of $105.49 million during the quarter, compared to analyst estimates of $105.04 million. Cognyte Software had a negative net margin of 0.66% and a negative return on equity of 0.45%. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. As a group, research analysts predict that Cognyte Software Ltd. will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CGNT. Millennium Management LLC increased its position in Cognyte Software by 101.9% during the first 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. Samjo Management LLC boosted its holdings in shares of Cognyte Software by 64.4% in the 4th quarter. Samjo Management LLC now owns 896,325 shares of the company’s stock valued at $8,425,000 after purchasing an additional 351,150 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Cognyte Software by 77.5% in the 2nd quarter. Marshall Wace LLP now owns 756,876 shares of the company’s stock valued at $6,994,000 after purchasing an additional 330,569 shares during the last quarter. Westerly Capital Management LLC boosted its holdings in shares of Cognyte Software by 29.4% in the 3rd quarter. Westerly Capital Management LLC now owns 1,100,000 shares of the company’s stock valued at $9,240,000 after purchasing an additional 250,000 shares during the last quarter. Finally, Archon Capital Management LLC purchased a new stake in shares of Cognyte Software during the 4th quarter valued at $1,958,000. Institutional investors and hedge funds own 72.92% of the company’s stock.

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.