Cognyte Software (NASDAQ:CGNT) Sets New 52-Week Low – Here’s Why

Cognyte Software Ltd. (NASDAQ:CGNT) shares hit a new 52-week low on Thursday . The stock traded as low as $7.56 and last traded at $7.54, with a volume of 50288 shares. The stock had previously closed at $7.89.

Wall Street Analysts Forecast Growth

Several brokerages have 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cognyte Software in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.00.

Cognyte Software Trading Up 0.7%

The firm’s fifty day simple moving average is $9.13 and its 200 day simple moving average is $8.76. The company has a market cap of $534.14 million, a price-to-earnings ratio of -91.50 and a beta of 1.61.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings data on Tuesday, December 9th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.05. The business had revenue of $100.74 million during the quarter, compared to analysts’ expectations of $99.58 million. Cognyte Software had a negative net margin of 1.45% and a negative return on equity of 2.24%. Cognyte Software has set its FY 2026 guidance at 0.240-0.240 EPS. As a group, sell-side analysts expect that Cognyte Software Ltd. will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Cognyte Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. 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 worth $7,190,000 after purchasing an additional 465,307 shares in the last quarter. Marshall Wace LLP grew its stake in Cognyte Software by 77.5% during the 2nd 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 during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Cognyte Software by 49.3% during the 2nd 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 during the last quarter. G2 Investment Partners Management LLC acquired a new position in Cognyte Software during the second quarter worth approximately $2,460,000. Finally, Westerly Capital Management LLC lifted its stake in 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 buying an additional 250,000 shares during the last quarter. Institutional investors and hedge funds own 72.92% of the company’s stock.

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.