Cognyte Software (NASDAQ:CGNT) Stock Rating Raised to "Strong-Buy" at Wall Street Zen

Key Points

• Cognyte Software was upgraded to “strong buy” by Wall Street Zen, while Zacks Research also raised its rating; MarketBeat lists a consensus “Buy” rating and a $13.00 price target.
• The stock opened at $8.81, with a market capitalization of approximately $651 million and a 12-month trading range of $6.29 to $12.31.
• Cognyte exceeded quarterly expectations, reporting $0.15 in earnings per share versus the $0.09 consensus estimate and revenue of $109.24 million; institutional investors own 72.92% of its shares.

Cognyte Software (NASDAQ:CGNT - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently commented on the company. Zacks Research raised Cognyte Software from a "hold" rating to a "strong-buy" rating in a report on Monday, September 14th. Weiss Ratings raised shares of Cognyte Software from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Cognyte Software has a consensus rating of "Buy" and a consensus target price of $13.00.

Cognyte Software Trading Up 0.9%

NASDAQ CGNT opened at $8.81 on Friday. The stock has a market capitalization of $651.06 million, a price-to-earnings ratio of 291.00 and a beta of 1.59. The business's 50 day moving average is $8.71 and its two-hundred day moving average is $9.02. Cognyte Software has a 12-month low of $6.29 and a 12-month high of $12.31.

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

Institutional Investors Weigh In On Cognyte Software

Institutional investors and hedge funds have recently modified their holdings of the company. American Capital Management Inc. purchased a new stake in Cognyte Software during the second quarter worth $54,292,000. SG Americas Securities LLC increased its position in shares of Cognyte Software by 97.3% in the first quarter. SG Americas Securities LLC now owns 398,246 shares of the company's stock valued at $3,226,000 after buying an additional 196,427 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Cognyte Software by 37.7% during the 1st quarter. Bank of America Corp DE now owns 296,769 shares of the company's stock worth $2,404,000 after buying an additional 81,254 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Cognyte Software during the 2nd quarter worth $2,182,000. Finally, Bastion Asset Management Inc. purchased a new stake in shares of Cognyte Software in the 1st quarter worth about $1,615,000. Institutional investors and hedge funds own 72.92% of the company's stock.

Cognyte Software Company Profile

Cognyte Software Ltd. NASDAQ: CGNT develops software and analytics solutions that help government agencies, law enforcement organizations and other customers investigate threats, detect criminal activity and derive insights from large volumes of data. Its technologies are designed to support intelligence gathering, public safety and operational decision-making.

The company's offerings include digital and network intelligence, investigative analytics, video and audio analytics, and related data-management tools.

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