Zacks Research Upgrades Cognyte Software (NASDAQ:CGNT) to Strong-Buy

Key Points

• Zacks Research upgraded Cognyte Software to “strong buy” from “hold,” while the broader analyst consensus is “Buy” with an average price target of $13.50.
• 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 $8.48, up 1.8%, while institutional investors own 72.92% of the company; the stock has traded between $6.29 and $12.31 over the past year.

Cognyte Software (NASDAQ:CGNT - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Monday, Zacks reports.

Several other equities analysts have also weighed in on the stock. Weiss Ratings upgraded shares of Cognyte Software from a "sell (d-)" rating to a "hold (c-)" rating in a report on Monday. Wall Street Zen upgraded Cognyte Software from a "hold" rating to a "buy" rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $13.50.

Cognyte Software Stock Up 1.8%

NASDAQ:CGNT opened at $8.48 on Monday. The company has a fifty day moving average of $8.75 and a 200-day moving average of $8.97. The firm has a market capitalization of $626.67 million, a P/E ratio of 267.33 and a beta of 1.67. Cognyte Software has a twelve month low of $6.29 and a twelve month high of $12.31.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last released its earnings results on Wednesday, September 9th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.06. The company had revenue of $109.24 million for the quarter, compared to the consensus estimate 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. On average, analysts anticipate that Cognyte Software will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Cognyte Software

Several large investors have recently added to or reduced their stakes in CGNT. Tidal Investments LLC increased its holdings in 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 purchasing an additional 69,103 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in shares of Cognyte Software by 26.4% in the second quarter. Engineers Gate Manager LP now owns 94,490 shares of the company's stock valued at $830,000 after purchasing an additional 19,718 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Cognyte Software by 43.5% in the second quarter. NewEdge Advisors LLC now owns 16,594 shares of the company's stock valued at $146,000 after purchasing an additional 5,034 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Cognyte Software during the second quarter valued at approximately $2,182,000. Finally, American Capital Management Inc. bought a new stake in Cognyte Software during the second quarter worth $54,292,000. Institutional investors own 72.92% of the company's stock.

About Cognyte Software

Cognyte Software Ltd. NASDAQ: CGNT develops software and technology solutions that help governments and other organizations transform large volumes of data into actionable intelligence. Its platforms are designed to support investigative, security and intelligence operations by enabling users to collect, analyze, visualize and manage information from multiple sources.

The company's product portfolio includes solutions for digital intelligence, investigative analytics, network intelligence and cyber-related investigations.

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