Cognyte Software Ltd. (NASDAQ:CGNT) Receives Consensus Recommendation of “Hold” from Brokerages

Cognyte Software Ltd. (NASDAQ:CGNT) has earned a consensus recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $13.50.

A number of analysts recently issued reports on the stock. Lake Street Capital assumed 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 for the company. Wall Street Zen lowered shares of Cognyte Software from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Zacks Research lowered shares of Cognyte Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th.

Cognyte Software Trading Down 1.7%

Shares of NASDAQ:CGNT opened at $8.91 on Wednesday. The company has a fifty day simple moving average of $9.68 and a 200 day simple moving average of $8.93. The firm has a market cap of $651.14 million, a PE ratio of -222.75 and a beta of 1.64. Cognyte Software has a 12-month low of $6.29 and a 12-month high of $12.31.

Cognyte Software (NASDAQ:CGNT) last issued its quarterly earnings results 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). The company had revenue of $105.49 million during the quarter, compared to the consensus estimate of $105.04 million. Cognyte Software had a negative return on equity of 0.45% and a negative net margin of 0.66%.Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. As a group, equities research analysts forecast that Cognyte Software will post 0.14 EPS for the current fiscal year.

Institutional Trading of Cognyte Software

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Topline Capital Management LLC boosted its holdings in Cognyte Software by 2.4% in 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. CM Management LLC boosted its holdings in Cognyte Software by 60.0% in the third quarter. CM Management LLC now owns 160,000 shares of the company’s stock worth $1,344,000 after purchasing an additional 60,000 shares during the period. GSA Capital Partners LLP boosted its holdings in Cognyte Software by 43.2% in the third quarter. GSA Capital Partners LLP now owns 106,225 shares of the company’s stock worth $892,000 after purchasing an additional 32,033 shares during the period. State of Tennessee Department of Treasury boosted its holdings in Cognyte Software by 73.5% in the second quarter. State of Tennessee Department of Treasury now owns 61,249 shares of the company’s stock worth $566,000 after purchasing an additional 25,953 shares during the period. Finally, Tidal Investments LLC boosted its holdings in Cognyte Software by 22.1% in the second quarter. Tidal Investments LLC now owns 49,403 shares of the company’s stock worth $456,000 after purchasing an additional 8,927 shares during the period. 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.