Cognyte Software (NASDAQ:CGNT) Share Price Passes Above 200-Day Moving Average - What's Next?

Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.42 and traded as high as $9.45. Cognyte Software shares last traded at $9.09, with a volume of 296,557 shares traded.

Analysts Set New Price Targets

Several analysts have recently issued reports on CGNT shares. Needham & Company LLC reissued a "hold" rating on shares of Cognyte Software in a research report on Wednesday, June 11th. Wall Street Zen upgraded Cognyte Software from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 12th.

Cognyte Software Stock Down 3.7%

The business's fifty day simple moving average is $9.98 and its two-hundred day simple moving average is $9.42. The company has a market cap of $655.03 million, a price-to-earnings ratio of -82.64 and a beta of 1.65.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last issued its quarterly earnings data on Wednesday, June 11th. The company reported $0.07 earnings per share for the quarter. The company had revenue of $95.55 million during the quarter, compared to analysts' expectations of $93.96 million. Cognyte Software had a negative return on equity of 3.53% and a negative net margin of 2.18%. Sell-side analysts predict that Cognyte Software Ltd. will post -0.2 EPS for the current fiscal year.

Hedge Funds Weigh In On Cognyte Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Topline Capital Management LLC acquired a new stake in shares of Cognyte Software in the 4th quarter worth $78,025,000. Edenbrook Capital LLC grew its holdings in Cognyte Software by 1.3% during the first quarter. Edenbrook Capital LLC now owns 6,635,083 shares of the company's stock worth $51,754,000 after acquiring an additional 82,500 shares during the period. Value Base Ltd. purchased a new position in Cognyte Software in the fourth quarter worth $49,471,000. William Blair Investment Management LLC lifted its holdings in Cognyte Software by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 2,742,843 shares of the company's stock valued at $23,726,000 after acquiring an additional 67,024 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in Cognyte Software by 5.6% in the first quarter. Acadian Asset Management LLC now owns 2,654,829 shares of the company's stock valued at $20,682,000 after acquiring an additional 140,793 shares during the period. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.