Cognyte Software (NASDAQ:CGNT) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Cognyte Software shares moved above their 200-day moving average of $8.82, reaching $8.90 before closing at $8.62 on trading volume of 609,689 shares.
• Analysts maintain a consensus “Hold” rating with an average price target of $13.50, despite mixed revisions and ratings ranging from Buy to Sell.
• The company missed quarterly EPS expectations, reporting $0.03 versus the $0.10 consensus, while revenue of $105.49 million slightly exceeded estimates; institutional investors own 72.92% of the stock.

Shares of Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.82 and traded as high as $8.90. Cognyte Software shares last traded at $8.62, with a volume of 609,689 shares traded.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CGNT shares. Zacks Research raised shares of Cognyte Software from a "strong sell" rating to a "hold" rating in a research note on Monday, August 3rd. Wall Street Zen cut shares of Cognyte Software from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $13.50.

Cognyte Software Stock Performance

The firm has a market cap of $637.02 million, a PE ratio of -215.50 and a beta of 1.67. The firm has a fifty day simple moving average of $8.80 and a two-hundred day simple moving average of $8.82.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.07). The firm had revenue of $105.49 million during the quarter, compared to the consensus estimate of $105.04 million. Cognyte Software had a negative return on equity of 0.45% and a negative net margin of 0.66%.Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. Equities analysts forecast that Cognyte Software Ltd. will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Cognyte Software

A number of hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new position in Cognyte Software during the second quarter valued at $2,182,000. American Capital Management Inc. purchased a new position in shares of Cognyte Software in the 2nd quarter worth $54,292,000. Westport Asset Management Inc. bought a new stake in shares of Cognyte Software in the 2nd quarter worth about $483,000. NewEdge Advisors LLC bought a new stake in shares of Cognyte Software in the 1st quarter worth about $94,000. Finally, Bank of America Corp DE raised its position in shares of Cognyte Software by 37.7% during the 1st quarter. Bank of America Corp DE now owns 296,769 shares of the company's stock valued at $2,404,000 after buying an additional 81,254 shares in the last quarter. Hedge funds and other institutional investors own 72.92% of the company's stock.

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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