Cognyte Software Ltd. (NASDAQ:CGNT) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts give Cognyte an average rating of "Hold" (1 sell, 2 hold, 2 buy) with an average 12‑month price target of $13.50.
• Institutional investors own 72.92% of the shares, with recent notable buying from firms including Millennium Management, XTX Topco and Vident Advisory.
• The stock trades around $7.69, well below the analyst target; the company slightly beat quarterly EPS and revenue estimates but still recorded a negative net margin and analysts forecast about -0.2 EPS for the year.

Shares of Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report) have received an average rating of "Hold" from the five analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $13.50.

A number of brokerages recently weighed in on CGNT. Wall Street Zen raised shares of Cognyte Software from a "hold" rating to a "buy" rating in a research report on Saturday, December 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cognyte Software in a research note on Wednesday, January 21st. Finally, Lake Street Capital began coverage on Cognyte Software in a research report on Monday, March 2nd. They set a "buy" rating and a $13.00 price target on the stock.

Institutional Investors Weigh In On Cognyte Software

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its position in Cognyte Software by 1,478.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,268 shares of the company's stock valued at $31,000 after buying an additional 3,061 shares during the last quarter. Vident Advisory LLC lifted its stake in shares of Cognyte Software by 2.6% in the fourth quarter. Vident Advisory LLC now owns 88,648 shares of the company's stock worth $833,000 after acquiring an additional 2,225 shares in the last quarter. XTX Topco Ltd purchased a new position in Cognyte Software in the fourth quarter valued at about $887,000. Susquehanna Fundamental Investments LLC purchased a new position in Cognyte Software in the fourth quarter valued at about $551,000. Finally, Millennium Management LLC grew its stake in Cognyte Software by 38.4% during the 4th quarter. Millennium Management LLC now owns 295,818 shares of the company's stock valued at $2,781,000 after purchasing an additional 82,119 shares in the last quarter. Hedge funds and other institutional investors own 72.92% of the company's stock.

Cognyte Software Stock Performance

Shares of NASDAQ:CGNT traded down $0.38 during trading on Friday, reaching $7.69. 69,740 shares of the stock were exchanged, compared to its average volume of 414,332. The firm's 50-day moving average price is $8.04 and its 200 day moving average price is $8.48. The firm has a market cap of $561.43 million, a price-to-earnings ratio of -769.10 and a beta of 1.64. Cognyte Software has a 12-month low of $6.29 and a 12-month high of $11.65.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last announced its quarterly earnings results on Wednesday, March 25th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.09. Cognyte Software had a negative net margin of 0.16% and a positive return on equity of 0.74%. The firm had revenue of $106.24 million for the quarter, compared to analysts' expectations of $106.20 million. As a group, equities research analysts forecast that Cognyte Software will post -0.2 EPS for the current year.

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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