Cognyte Software (NASDAQ:CGNT) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Cognyte Software from “strong buy” to “hold.” Another rating service also lowered its assessment, while analysts’ overall consensus remains “Hold,” with a $13 price target.
• Cognyte reported quarterly EPS of $0.15, beating the $0.09 consensus estimate, and revenue of $109.24 million, slightly above expectations.
• Shares opened at $8.46; the stock’s 52-week range is $6.29 to $12.31, and institutional investors own about 72.9% of shares.

Cognyte Software (NASDAQ:CGNT - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday, Zacks reports.

Other analysts have also issued reports about the stock. Weiss Ratings lowered shares of Cognyte Software from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday. Wall Street Zen raised Cognyte Software from a "buy" rating to a "strong-buy" rating in a report on Saturday, October 10th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $13.00.

Cognyte Software Stock Performance

NASDAQ CGNT opened at $8.46 on Monday. The company has a market capitalization of $625.19 million, a price-to-earnings ratio of 287.33 and a beta of 1.63. The company's 50-day simple moving average is $8.75 and its two-hundred day simple moving average is $8.81. Cognyte Software has a one year low of $6.29 and a one year high of $12.31.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. The firm had revenue of $109.24 million during the quarter, compared to analysts' expectations of $108.51 million. Cognyte Software had a negative net margin of 0.01% and a positive return on equity of 1.31%. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. Equities analysts expect that Cognyte Software will post 0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cognyte Software

A number of institutional investors have recently bought and sold shares of CGNT. HighTower Advisors LLC lifted its stake in shares of Cognyte Software by 20.4% in the 3rd quarter. HighTower Advisors LLC now owns 166,111 shares of the company's stock valued at $1,444,000 after purchasing an additional 28,200 shares during the period. R Squared Ltd increased its position in shares of Cognyte Software by 61.7% in the third quarter. R Squared Ltd now owns 33,423 shares of the company's stock valued at $290,000 after buying an additional 12,753 shares in the last quarter. StoneX Group Inc. purchased a new stake in shares of Cognyte Software in the third quarter valued at approximately $105,000. Signaturefd LLC increased its position in shares of Cognyte Software by 28.8% in the third quarter. Signaturefd LLC now owns 5,844 shares of the company's stock valued at $51,000 after buying an additional 1,306 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in shares of Cognyte Software by 137.3% during the 2nd quarter. Tidal Investments LLC now owns 119,440 shares of the company's stock worth $1,049,000 after buying an additional 69,103 shares during the period. 72.92% of the stock is owned by hedge funds and other institutional investors.

Cognyte Software Company Profile

Cognyte Software Ltd. develops analytics software for organizations that need to collect, process and analyze large volumes of data. Its platforms help customers combine information from multiple sources to identify patterns, connections and potential threats. The company's solutions support intelligence analysis, investigations and operational decision-making. Customers include government and law enforcement agencies, national security organizations and communications service providers. Cognyte is based in Herzliya, Israel, and serves customers internationally.

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