Cognyte Software (NASDAQ:CGNT) Upgraded by Zacks Research to Hold Rating

Key Points

• Zacks Research upgraded Cognyte Software to “Hold” from “Strong Sell,” while Wall Street Zen separately downgraded the stock from “Buy” to “Hold.” Analysts’ average rating is now “Hold,” with an average price target of $13.50.
• Cognyte shares opened at $9.30 and were trading up 1.4%, with a market capitalization of approximately $687 million. The stock has traded between $6.29 and $12.31 over the past year.
• The company reported quarterly earnings of $0.03 per share, below the $0.10 consensus estimate, while revenue of $105.49 million slightly exceeded expectations. Institutional investors own approximately 72.92% of the company.

Cognyte Software (NASDAQ:CGNT - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Separately, Wall Street Zen downgraded Cognyte Software from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Cognyte Software presently has an average rating of "Hold" and an average price target of $13.50.

Cognyte Software Trading Up 1.4%

Shares of CGNT stock opened at $9.30 on Monday. Cognyte Software has a 12-month low of $6.29 and a 12-month high of $12.31. The stock has a market capitalization of $687.27 million, a P/E ratio of -232.50 and a beta of 1.67. The firm's 50 day moving average is $9.00 and its 200 day moving average is $8.81.

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

Hedge Funds Weigh In On Cognyte Software

Several large investors have recently added to or reduced their stakes in CGNT. Rockefeller Capital Management L.P. increased its stake in shares of Cognyte Software by 1,478.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,268 shares of the company's stock worth $31,000 after purchasing an additional 3,061 shares in the last quarter. Quarry LP purchased a new position in shares of Cognyte Software during the 3rd quarter valued at $33,000. Osaic Holdings Inc. lifted its stake in shares of Cognyte Software by 79.4% during the 2nd 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 in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Cognyte Software during the 1st quarter valued at $94,000. Finally, FourThought Financial Partners LLC bought a new position in Cognyte Software in the 4th quarter worth $95,000. 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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