Cognyte Software Ltd. (NASDAQ:CGNT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Cognyte Software Ltd. (NASDAQ:CGNT) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $13.50.

CGNT has been the topic of a number of research reports. Wall Street Zen lowered shares of Cognyte Software from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research raised shares of Cognyte Software from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cognyte Software in a research report on Wednesday, January 21st. Finally, Lake Street Capital assumed coverage on shares of Cognyte Software in a research report on Monday, March 2nd. They issued a “buy” rating and a $13.00 price objective on the stock.

Institutional Trading of Cognyte Software

Several institutional investors and hedge funds have recently added to or reduced their stakes in CGNT. Millennium Management LLC raised its position in 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 acquiring an additional 465,307 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Cognyte Software by 52.6% during the first quarter. Goldman Sachs Group Inc. now owns 131,140 shares of the company’s stock worth $1,023,000 after acquiring an additional 45,229 shares in the last quarter. JPMorgan Chase & Co. raised its position in Cognyte Software by 36.3% during the second quarter. JPMorgan Chase & Co. now owns 582,139 shares of the company’s stock worth $5,379,000 after acquiring an additional 154,955 shares in the last quarter. Marshall Wace LLP raised its position in Cognyte Software by 77.5% during the second quarter. Marshall Wace LLP now owns 756,876 shares of the company’s stock worth $6,994,000 after acquiring an additional 330,569 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its position in Cognyte Software by 25.4% during the second quarter. Qube Research & Technologies Ltd now owns 224,053 shares of the company’s stock worth $2,070,000 after acquiring an additional 45,449 shares in the last quarter. 72.92% of the stock is owned by institutional investors.

Cognyte Software Stock Up 1.3%

Shares of CGNT stock opened at $9.79 on Friday. The company’s fifty day simple moving average is $9.07 and its 200-day simple moving average is $8.73. The firm has a market cap of $715.45 million, a PE ratio of -979.00 and a beta of 1.58. Cognyte Software has a 12 month low of $6.29 and a 12 month high of $11.65.

Cognyte Software (NASDAQ:CGNT) last announced its quarterly earnings data on Wednesday, March 25th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.09. The business had revenue of $106.24 million for the quarter, compared to analyst estimates of $106.20 million. Cognyte Software had a negative net margin of 0.16% and a positive return on equity of 0.74%. On average, equities analysts predict that Cognyte Software will post 0.17 earnings per share for the current fiscal year.

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.