Cognyte Software Ltd. (NASDAQ:CGNT) Receives $13.50 Consensus PT from Analysts

Cognyte Software Ltd. (NASDAQ:CGNT) has been assigned an average rating of “Hold” from the five analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $13.50.

A number of equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognyte Software in a report on Wednesday, January 21st. Lake Street Capital started coverage on shares of Cognyte Software in a research report on Monday, March 2nd. They set a “buy” rating and a $13.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Cognyte Software from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 28th.

Cognyte Software Stock Up 2.9%

Shares of Cognyte Software stock opened at $8.40 on Friday. Cognyte Software has a 12 month low of $6.29 and a 12 month high of $11.65. The stock has a market cap of $613.87 million, a PE ratio of -840.00 and a beta of 1.53. The business has a fifty day simple moving average of $7.94 and a 200-day simple moving average of $8.46.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings results on Wednesday, March 25th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.09. Cognyte Software had a positive return on equity of 0.74% and a negative net margin of 0.16%.The firm had revenue of $106.24 million for the quarter, compared to analyst estimates of $106.20 million. Analysts expect that Cognyte Software will post -0.2 EPS for the current fiscal year.

Institutional Trading of Cognyte Software

Several hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC grew its stake in Cognyte Software by 101.9% in the first quarter. Millennium Management LLC now owns 921,853 shares of the company’s stock valued at $7,190,000 after purchasing an additional 465,307 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Cognyte Software by 52.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 131,140 shares of the company’s stock valued at $1,023,000 after buying an additional 45,229 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Cognyte Software by 36.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 582,139 shares of the company’s stock valued at $5,379,000 after buying an additional 154,955 shares in the last quarter. Virtus Advisers LLC bought a new stake in shares of Cognyte Software in the 2nd quarter valued at approximately $38,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Cognyte Software by 49.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 840,735 shares of the company’s stock worth $7,768,000 after buying an additional 277,730 shares during the last quarter. 72.92% of the stock is currently owned by hedge funds and other 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.