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

Cognyte Software Ltd. (NASDAQ:CGNT) has earned an average rating of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $13.50.

A number of research analysts have commented on the stock. Zacks Research cut shares of Cognyte Software from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 24th. Wall Street Zen lowered shares of Cognyte Software from a “buy” rating to a “hold” rating in a report on Saturday, June 6th.

Institutional Investors Weigh In On Cognyte Software

A number of institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. boosted its holdings in Cognyte Software by 1,478.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,268 shares of the company’s stock valued at $31,000 after acquiring an additional 3,061 shares during the period. Osaic Holdings Inc. boosted its stake in shares of 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 purchasing an additional 1,608 shares during the period. Quarry LP acquired a new position in shares of Cognyte Software in the third quarter valued at approximately $33,000. FourThought Financial Partners LLC purchased a new stake in Cognyte Software during the 4th quarter worth approximately $95,000. Finally, NewEdge Advisors LLC purchased a new stake in Cognyte Software during the 1st quarter worth approximately $94,000. 72.92% of the stock is owned by institutional investors and hedge funds.

Cognyte Software Stock Performance

Shares of Cognyte Software stock remained flat at $8.99 during mid-day trading on Friday. 671,412 shares of the stock traded hands, compared to its average volume of 776,433. The firm’s 50-day simple moving average is $9.52 and its 200-day simple moving average is $8.91. The company has a market cap of $656.99 million, a price-to-earnings ratio of -224.75 and a beta of 1.68. Cognyte Software has a twelve month low of $6.29 and a twelve month high of $12.31.

Cognyte Software (NASDAQ:CGNT) last announced 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. On average, equities research analysts anticipate that Cognyte Software will post 0.08 earnings per share for the current year.

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.