Cognyte Software (NASDAQ:CGNT) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Cognyte Software (NASDAQ:CGNT) shares moved above their 200-day moving average on Monday, trading as high as $9.17 and last changing hands at $9.04. The stock was up 2.7% on the session.
• Analyst sentiment remains mixed: Zacks Research cut the stock to strong sell, while Wall Street Zen downgraded it to hold. Overall, CGNT has a consensus rating of Hold with a target price of $13.50.
• The company’s latest earnings showed $0.03 EPS, missing expectations, though revenue came in roughly in line at $105.49 million. Cognyte also reported negative margins and ROE, while institutional investors continue to hold the majority of shares.

Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.88 and traded as high as $9.17. Cognyte Software shares last traded at $9.04, with a volume of 512,981 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CGNT shares. Zacks Research lowered Cognyte Software from a "hold" rating to a "strong sell" rating in a research note on Wednesday, June 24th. Wall Street Zen downgraded Cognyte Software from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $13.50.

Cognyte Software Trading Up 2.7%

The company has a market capitalization of $660.63 million, a price-to-earnings ratio of -226.00 and a beta of 1.68. The stock's fifty day simple moving average is $9.47 and its 200-day simple moving average is $8.88.

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

Institutional Trading of Cognyte Software

A number of large investors have recently made changes to their positions in CGNT. Rockefeller Capital Management L.P. grew its holdings in shares of 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 worth $31,000 after buying an additional 3,061 shares during the last quarter. Quarry LP acquired a new position in Cognyte Software in the 3rd quarter valued at about $33,000. Osaic Holdings Inc. increased its position in Cognyte Software by 79.4% in the 2nd quarter. Osaic Holdings Inc. now owns 3,634 shares of the company's stock valued at $34,000 after acquiring an additional 1,608 shares during the period. NewEdge Advisors LLC purchased a new stake in Cognyte Software during the 1st quarter valued at approximately $94,000. Finally, FourThought Financial Partners LLC purchased a new stake in Cognyte Software during the 4th quarter valued at approximately $95,000. 72.92% of the stock is owned by institutional investors and hedge funds.

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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