Cognyte Software (NASDAQ:CGNT) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• The stock crossed above its 200-day moving average
• Analysts have mixed views but are leaning positive—several recent upgrades to Strong Buy/Buy and a Lake Street $13 target contrast with a Weiss "Sell", producing a MarketBeat consensus of "Moderate Buy" and an average target of $13.50.
• Fundamentals show a quarter beat (EPS $0.10 vs $0.01 estimate) and revenue roughly in line at $106.24M, but the company remains effectively unprofitable (negative PE and a small negative net margin) with a market cap around $772 million.

Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.62 and traded as high as $10.75. Cognyte Software shares last traded at $10.57, with a volume of 1,054,789 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CGNT shares. 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. Zacks Research upgraded shares of Cognyte Software from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 8th. Lake Street Capital started coverage on shares of Cognyte Software in a research note on Monday, March 2nd. They set a "buy" rating and a $13.00 price target for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Cognyte Software in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $13.50.

Cognyte Software Price Performance

The firm has a market capitalization of $772.46 million, a PE ratio of -1,057.00 and a beta of 1.58. The firm's fifty day moving average is $8.63 and its two-hundred day moving average is $8.62.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last released its quarterly earnings results on Wednesday, March 25th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $106.24 million for the quarter, compared to analysts' expectations of $106.20 million. As a group, equities research analysts predict that Cognyte Software Ltd. will post 0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGNT. State of Alaska Department of Revenue purchased a new position in Cognyte Software during the third quarter worth about $27,000. Rockefeller Capital Management L.P. grew its position in 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 valued at $31,000 after buying an additional 3,061 shares during the period. Quarry LP bought a new position in Cognyte Software during the third quarter valued at about $33,000. Osaic Holdings Inc. grew its position in Cognyte Software by 79.4% during the second quarter. Osaic Holdings Inc. now owns 3,634 shares of the company's stock valued at $34,000 after buying an additional 1,608 shares during the period. Finally, FourThought Financial Partners LLC bought a new position in Cognyte Software during the fourth quarter valued at about $95,000. 72.92% of the stock is currently owned by hedge funds and other institutional investors.

Cognyte Software Company Profile

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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