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

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

A number of research analysts have weighed in on CGNT shares. 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 target on the stock. Wall Street Zen cut shares of Cognyte Software from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Zacks Research cut shares of Cognyte Software from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th.

Cognyte Software Price Performance

Shares of CGNT stock opened at $8.91 on Wednesday. The firm has a market cap of $651.14 million, a P/E ratio of -222.75 and a beta of 1.64. Cognyte Software has a 1-year low of $6.29 and a 1-year high of $12.31. The firm’s 50-day simple moving average is $9.68 and its 200-day simple moving average is $8.93.

Cognyte Software (NASDAQ:CGNT) last announced 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). The business had revenue of $105.49 million for 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. Analysts expect that Cognyte Software will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Cognyte Software

A number of hedge funds have recently made changes to their positions in the company. Topline Capital Management LLC raised its stake in shares of Cognyte Software by 2.4% during the third quarter. Topline Capital Management LLC now owns 7,195,619 shares of the company’s stock valued at $60,443,000 after purchasing an additional 168,329 shares during the period. American Capital Management Inc. raised its stake in shares of Cognyte Software by 0.6% during the third quarter. American Capital Management Inc. now owns 6,751,962 shares of the company’s stock valued at $56,716,000 after purchasing an additional 39,721 shares during the period. Westerly Capital Management LLC raised its stake in shares of Cognyte Software by 5.0% during the fourth quarter. Westerly Capital Management LLC now owns 1,155,000 shares of the company’s stock valued at $10,857,000 after purchasing an additional 55,000 shares during the period. Millennium Management LLC raised its stake in shares of Cognyte Software by 101.9% during 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 during the period. Finally, Scalar Gauge Management LLC raised its stake in shares of Cognyte Software by 14.6% during the fourth quarter. Scalar Gauge Management LLC now owns 904,099 shares of the company’s stock valued at $8,499,000 after purchasing an additional 115,000 shares during the period. Hedge funds and other institutional investors 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.