Zacks Research Upgrades Cognyte Software (NASDAQ:CGNT) to “Hold”

Cognyte Software (NASDAQ:CGNT) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Separately, Wall Street Zen downgraded shares of Cognyte Software from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cognyte Software has an average rating of “Hold” and a consensus target price of $13.50.

Cognyte Software Trading Up 1.4%

Shares of Cognyte Software stock opened at $9.30 on Monday. The business’s fifty day simple moving average is $9.00 and its 200 day simple moving average is $8.81. The firm has a market capitalization of $687.27 million, a P/E ratio of -232.50 and a beta of 1.67. Cognyte Software has a 12 month low of $6.29 and a 12 month high of $12.31.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its position 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 buying an additional 465,307 shares during the period. Samjo Management LLC lifted its holdings in shares of Cognyte Software by 64.4% in the fourth quarter. Samjo Management LLC now owns 896,325 shares of the company’s stock worth $8,425,000 after buying an additional 351,150 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Cognyte Software by 77.5% in the second quarter. Marshall Wace LLP now owns 756,876 shares of the company’s stock worth $6,994,000 after buying an additional 330,569 shares in the last quarter. Westerly Capital Management LLC boosted its position in shares of Cognyte Software by 29.4% in the third quarter. Westerly Capital Management LLC now owns 1,100,000 shares of the company’s stock valued at $9,240,000 after acquiring an additional 250,000 shares during the period. Finally, Archon Capital Management LLC bought a new position in shares of Cognyte Software in the fourth quarter valued at approximately $1,958,000. 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.