Cognyte Software (NASDAQ:CGNT) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Cognyte Software Ltd. (NASDAQ:CGNT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.82 and traded as high as $8.90. Cognyte Software shares last traded at $8.62, with a volume of 609,689 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on CGNT. Wall Street Zen lowered shares of Cognyte Software from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Zacks Research upgraded Cognyte Software from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.50.

Cognyte Software Stock Performance

The stock’s 50-day moving average price is $8.79 and its two-hundred day moving average price is $8.81. The stock has a market capitalization of $635.54 million, a PE ratio of -215.00 and a beta of 1.67.

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 business had revenue of $105.49 million for the quarter, compared to analysts’ expectations of $105.04 million. Cognyte Software had a negative net margin of 0.66% and a negative return on equity of 0.45%. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. On average, analysts predict that Cognyte Software Ltd. will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CGNT. American Capital Management Inc. boosted its holdings in Cognyte Software by 0.6% in the third quarter. American Capital Management Inc. now owns 6,751,962 shares of the company’s stock worth $56,716,000 after acquiring an additional 39,721 shares in the last quarter. Westerly Capital Management LLC increased its holdings in shares of Cognyte Software by 5.0% during the fourth quarter. Westerly Capital Management LLC now owns 1,155,000 shares of the company’s stock valued at $10,857,000 after acquiring an additional 55,000 shares in the last quarter. Millennium Management LLC raised its position in shares of Cognyte Software by 101.9% in the 1st 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 during the last quarter. Scalar Gauge Management LLC boosted its stake in Cognyte Software by 14.6% in the 4th quarter. Scalar Gauge Management LLC now owns 904,099 shares of the company’s stock worth $8,499,000 after purchasing an additional 115,000 shares in the last quarter. Finally, Samjo Management LLC boosted its stake in Cognyte Software by 64.4% in the 4th quarter. Samjo Management LLC now owns 896,325 shares of the company’s stock worth $8,425,000 after purchasing an additional 351,150 shares in the last quarter. Institutional investors 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.