Cognyte Software (NASDAQ:CGNT) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Cognyte Software (NASDAQ:CGNT) from a buy rating to a strong-buy rating in a research report report published on Saturday.

Several other equities analysts also recently commented on the stock. Lake Street Capital initiated coverage on shares of Cognyte Software in a research note on Monday, March 2nd. They issued a “buy” rating and a $13.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognyte Software in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.50.

Cognyte Software Price Performance

CGNT opened at $7.75 on Friday. The business has a fifty day simple moving average of $8.01 and a 200 day simple moving average of $8.47. Cognyte Software has a 1 year low of $6.29 and a 1 year high of $11.65. The company has a market capitalization of $566.35 million, a PE ratio of -775.00 and a beta of 1.64.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings data on Wednesday, March 25th. The company reported $0.10 earnings per share for the quarter, topping 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 analysts’ expectations of $106.20 million. Equities analysts anticipate that Cognyte Software will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Cognyte Software

A number of institutional investors have recently modified their holdings of the stock. Scalar Gauge Management LLC increased its position in shares of Cognyte Software by 44.8% in the third quarter. Scalar Gauge Management LLC now owns 789,099 shares of the company’s stock worth $6,628,000 after purchasing an additional 244,067 shares during the period. Topline Capital Management LLC lifted its position in Cognyte Software by 2.4% during the third quarter. Topline Capital Management LLC now owns 7,195,619 shares of the company’s stock worth $60,443,000 after purchasing an additional 168,329 shares during the period. G2 Investment Partners Management LLC bought a new stake in Cognyte Software during the second quarter worth about $2,460,000. Arrowstreet Capital Limited Partnership grew its stake in Cognyte Software by 49.3% during 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 in the last quarter. Finally, CM Management LLC grew its stake in Cognyte Software by 60.0% during the third quarter. CM Management LLC now owns 160,000 shares of the company’s stock worth $1,344,000 after buying an additional 60,000 shares in the last quarter. 72.92% of the stock is currently owned by institutional investors.

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.