Cognyte Software (NASDAQ:CGNT) Coverage Initiated by Analysts at Roth Capital

Key Points

• Roth Capital has initiated coverage on Cognyte Software (NASDAQ:CGNT) with a "buy" rating and a price target of $14.00, indicating a potential upside of 69.70% from its current price.
• While Roth Capital rates the stock positively, Needham & Company has issued a "hold" rating, leading to a consensus rating of "Moderate Buy" among analysts.
• Institutional investors own 72.92% of Cognyte Software's shares, with notable recent activity including an increase in positions from Bank of America Corp and acquisitions by several hedge funds.

Investment analysts at Roth Capital began coverage on shares of Cognyte Software (NASDAQ:CGNT - Get Free Report) in a report issued on Friday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $14.00 price target on the stock. Roth Capital's price objective would suggest a potential upside of 69.70% from the company's current price.

Separately, Needham & Company LLC restated a "hold" rating on shares of Cognyte Software in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

Cognyte Software Stock Performance

CGNT stock opened at $8.25 on Friday. Cognyte Software has a 1 year low of $6.38 and a 1 year high of $11.65. The firm has a market cap of $601.99 million, a P/E ratio of -137.48 and a beta of 1.63. The stock has a 50-day simple moving average of $8.73 and a 200-day simple moving average of $9.24.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CGNT. Jane Street Group LLC acquired a new position in shares of Cognyte Software in the 4th quarter worth approximately $112,000. Bank of America Corp DE raised its stake in Cognyte Software by 149.3% during the 4th quarter. Bank of America Corp DE now owns 13,369 shares of the company's stock valued at $116,000 after acquiring an additional 8,007 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Cognyte Software in the 1st quarter worth $663,000. Signaturefd LLC raised its stake in shares of Cognyte Software by 119.2% in the 1st quarter. Signaturefd LLC now owns 3,968 shares of the company's stock worth $31,000 after buying an additional 2,158 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Cognyte Software in the 1st quarter worth $610,000. Institutional investors and hedge funds own 72.92% of the company's stock.

Cognyte Software Company Profile

Cognyte Software Ltd. provides an investigative analytics software to governments and enterprises worldwide. Its Actionable Intelligence for a Safer World, an open software designed to help governments and enterprises accelerate and enhance the effectiveness of investigations. The company offers network intelligence analytics, threat intelligence analytics, decision intelligence analytics, and operational intelligence analytics solutions.

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