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

Key Points

• Analyst consensus: Shares of Cognyte have an average recommendation of "Moderate Buy" from five covering firms (1 sell, 1 hold, 2 buy, 1 strong buy) with an average 12‑month target price of $13.50.
• Recent results & valuation: Cognyte beat Q1 EPS expectations ($0.10 vs. $0.01) on $106.24M revenue, but trades around $10.06 with a market cap of ~$735M, a 12‑month range of $6.29–$11.65, and a negative P/E reflecting recent losses.

Shares of Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report) have received an average recommendation of "Moderate Buy" from the five research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $13.50.

CGNT has been the subject of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cognyte Software in a report on Wednesday, January 21st. Zacks Research upgraded Cognyte Software from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 8th. Lake Street Capital assumed coverage on Cognyte Software in a report on Monday, March 2nd. They set a "buy" rating and a $13.00 price target for the company. Finally, Wall Street Zen upgraded shares of Cognyte Software from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 28th.

Institutional Investors Weigh In On Cognyte Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new stake in shares of Cognyte Software in the third quarter valued at approximately $27,000. Rockefeller Capital Management L.P. grew its stake in shares of Cognyte Software by 1,478.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,268 shares of the company's stock worth $31,000 after buying an additional 3,061 shares during the last quarter. Quarry LP bought a new stake in shares of Cognyte Software during the third quarter worth $33,000. Osaic Holdings Inc. grew its stake in shares of Cognyte Software by 79.4% during the second quarter. Osaic Holdings Inc. now owns 3,634 shares of the company's stock worth $34,000 after buying an additional 1,608 shares during the last quarter. Finally, FourThought Financial Partners LLC bought a new stake in shares of Cognyte Software in the fourth quarter worth $95,000. 72.92% of the stock is currently owned by institutional investors and hedge funds.

Cognyte Software Stock Up 0.8%

CGNT opened at $10.06 on Tuesday. Cognyte Software has a 12 month low of $6.29 and a 12 month high of $11.65. The company has a fifty day simple moving average of $8.08 and a 200 day simple moving average of $8.52. The stock has a market cap of $735.18 million, a P/E ratio of -1,006.00 and a beta of 1.53.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last released its quarterly earnings data on Wednesday, March 25th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.09. The business had revenue of $106.24 million during the quarter, compared to analysts' expectations of $106.20 million. Cognyte Software had a negative net margin of 0.16% and a positive return on equity of 0.74%. On average, equities research analysts expect that Cognyte Software will post 0.17 earnings per share for the current fiscal 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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