Cognyte Software (NASDAQ:CGNT) Shares Gap Down - Should You Sell?

Key Points

• Cognyte Software shares gapped down significantly, opening at $8.83 after closing at $9.53, with the last trade reported at $8.34.
• Analysts maintain a consensus rating of "Hold" on Cognyte Software as Needham & Company LLC reaffirmed this rating in a recent report.
• The company reported $0.03 earnings per share, in line with consensus estimates, while also providing FY 2026 guidance of 0.230 EPS.

Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $9.53, but opened at $8.83. Cognyte Software shares last traded at $8.34, with a volume of 465,989 shares changing hands.

Analyst Ratings Changes

Separately, Needham & Company LLC reissued a "hold" rating on shares of Cognyte Software in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold".

Cognyte Software Stock Down 2.3%

The stock has a market capitalization of $621.70 million, a price-to-earnings ratio of -141.98 and a beta of 1.65. The business's 50 day simple moving average is $8.94 and its 200-day simple moving average is $9.25.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last announced its quarterly earnings data on Wednesday, June 11th. The company reported $0.07 earnings per share (EPS) for the quarter. The firm had revenue of $95.55 million for the quarter, compared to the consensus estimate of $93.96 million. Cognyte Software had a negative net margin of 1.20% and a negative return on equity of 2.05%. On average, analysts expect that Cognyte Software Ltd. will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of Cognyte Software in the first quarter worth about $663,000. Bank of America Corp DE lifted its holdings in shares of Cognyte Software by 149.3% in the fourth quarter. Bank of America Corp DE now owns 13,369 shares of the company's stock worth $116,000 after acquiring an additional 8,007 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Cognyte Software by 119.2% in the first quarter. Signaturefd LLC now owns 3,968 shares of the company's stock worth $31,000 after acquiring an additional 2,158 shares during the last quarter. Millennium Management LLC raised its holdings in Cognyte Software by 80.8% in the 4th quarter. Millennium Management LLC now owns 456,546 shares of the company's stock valued at $3,949,000 after buying an additional 204,099 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Cognyte Software in the 4th quarter valued at approximately $112,000. 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.