Cognyte Software Ltd. (NASDAQ:CGNT) Receives Average Rating of “Hold” from Brokerages

Shares of Cognyte Software Ltd. (NASDAQ:CGNT) have earned an average recommendation of “Hold” from the five brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $13.50.

Several research analysts have issued reports on CGNT shares. Zacks Research cut shares of Cognyte Software from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 24th. Wall Street Zen cut shares of Cognyte Software from a “buy” rating to a “hold” rating in a report on Saturday, June 6th.

Cognyte Software Trading Up 1.2%

Cognyte Software stock opened at $9.12 on Friday. Cognyte Software has a 12 month low of $6.29 and a 12 month high of $12.31. The company has a market capitalization of $666.49 million, a price-to-earnings ratio of -228.00 and a beta of 1.68. The business’s fifty day simple moving average is $9.49 and its two-hundred day simple moving average is $8.89.

Cognyte Software (NASDAQ:CGNT) last issued its quarterly earnings results on Wednesday, June 3rd. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.07). The company had revenue of $105.49 million for the quarter, compared to the consensus estimate 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. On average, equities research analysts predict that Cognyte Software will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Cognyte Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGNT. Rockefeller Capital Management L.P. increased its holdings in shares of Cognyte Software by 1,478.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,268 shares of the company’s stock worth $31,000 after purchasing an additional 3,061 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Cognyte Software by 79.4% during 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 3rd quarter worth about $33,000. FourThought Financial Partners LLC bought a new stake in Cognyte Software in the 4th quarter worth about $95,000. Finally, NewEdge Advisors LLC purchased a new position in Cognyte Software in the 1st quarter worth about $94,000. 72.92% of the stock is owned by institutional investors.

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.