Cognyte Software (NASDAQ:CGNT) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Cognyte Software to “Buy” from “Hold.” However, the broader analyst consensus remains “Hold,” with an average price target of $13.50.
• Cognyte reported quarterly earnings of $0.15 per share, beating estimates of $0.09, while revenue of $109.24 million also exceeded expectations.
• The stock opened at $8.02 and remains below its 50-day and 200-day moving averages; institutional investors own approximately 72.92% of the company.

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

Separately, Zacks Research upgraded shares of Cognyte Software from a "strong sell" rating to a "hold" rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $13.50.

Cognyte Software Price Performance

Shares of Cognyte Software stock opened at $8.02 on Friday. The firm's fifty day simple moving average is $8.79 and its 200-day simple moving average is $8.92. The stock has a market capitalization of $592.68 million, a price-to-earnings ratio of -200.50 and a beta of 1.67. 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 issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates 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. Analysts anticipate that Cognyte Software will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Cognyte Software

A number of hedge funds and other institutional investors have recently bought and sold shares of CGNT. American Capital Management Inc. purchased a new position in Cognyte Software during the 2nd quarter worth $54,292,000. Bastion Asset Management Inc. purchased a new stake in shares of Cognyte Software in the first quarter valued at about $1,615,000. Yelin Lapidot Holdings Management Ltd. boosted its holdings in shares of Cognyte Software by 278.3% in the first quarter. Yelin Lapidot Holdings Management Ltd. now owns 100,979 shares of the company's stock valued at $818,000 after acquiring an additional 74,289 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Cognyte Software during the second quarter worth about $2,182,000. Finally, SG Americas Securities LLC increased its stake in shares of Cognyte Software by 97.3% during the first quarter. SG Americas Securities LLC now owns 398,246 shares of the company's stock worth $3,226,000 after acquiring an additional 196,427 shares during the period. 72.92% of the stock is currently owned by hedge funds and other institutional investors.

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.

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