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

Shares of Cognyte Software Ltd. (NASDAQ:CGNT) have been assigned a consensus rating of “Hold” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $13.50.

Several brokerages have recently commented on CGNT. Wall Street Zen raised shares of Cognyte Software from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Lake Street Capital started coverage on Cognyte Software in a report on Monday, March 2nd. They set a “buy” rating and a $13.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognyte Software in a research report on Wednesday, January 21st.

Cognyte Software Stock Down 4.7%

Shares of Cognyte Software stock traded down $0.38 on Friday, hitting $7.69. 69,740 shares of the company’s stock traded hands, compared to its average volume of 414,332. The firm’s 50-day moving average is $8.04 and its 200 day moving average is $8.48. The stock has a market cap of $561.43 million, a P/E ratio of -769.10 and a beta of 1.64. Cognyte Software has a 52-week low of $6.29 and a 52-week high of $11.65.

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

Institutional Trading of Cognyte Software

A number of institutional investors and hedge funds have recently modified their holdings of CGNT. State of Alaska Department of Revenue acquired a new position in shares of Cognyte Software in the 3rd quarter valued at about $27,000. Rockefeller Capital Management L.P. raised its stake in Cognyte Software by 1,478.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,268 shares of the company’s stock worth $31,000 after acquiring an additional 3,061 shares during the period. Quarry LP bought a new position in Cognyte Software in the third quarter worth about $33,000. Osaic Holdings Inc. boosted its stake in 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 acquiring an additional 1,608 shares during the period. Finally, Virtus Advisers LLC acquired a new position in Cognyte Software in the second quarter valued at approximately $38,000. 72.92% of the stock is owned by institutional investors and hedge funds.

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.