Cognyte Software (NASDAQ:CGNT - Get Free Report) had its price target hoisted by equities research analysts at Wedbush from $5.00 to $8.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a "neutral" rating on the medical device company's stock. Wedbush's price objective would indicate a potential upside of 13.96% from the company's previous close.
A number of other brokerages have also issued reports on CGNT. StockNews.com upgraded shares of Cognyte Software from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Evercore ISI raised their price objective on shares of Cognyte Software from $5.00 to $7.50 and gave the company an "in-line" rating in a report on Wednesday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Cognyte Software in a report on Tuesday.
Get Our Latest Analysis on Cognyte Software
Cognyte Software Stock Performance
Shares of CGNT traded up $0.05 during mid-day trading on Thursday, reaching $7.02. The company had a trading volume of 593,107 shares, compared to its average volume of 453,426. The company's 50 day simple moving average is $7.60 and its 200 day simple moving average is $6.11. Cognyte Software has a 1-year low of $4.00 and a 1-year high of $8.53. The company has a market capitalization of $483.26 million, a price-to-earnings ratio of -11.61 and a beta of 1.68.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in CGNT. Tower Research Capital LLC TRC acquired a new stake in Cognyte Software in the 4th quarter valued at $37,000. Quantbot Technologies LP acquired a new stake in Cognyte Software in the 1st quarter valued at $45,000. M&T Bank Corp grew its position in Cognyte Software by 52.8% in the 1st quarter. M&T Bank Corp now owns 16,559 shares of the medical device company's stock valued at $56,000 after purchasing an additional 5,724 shares during the period. Lazard Asset Management LLC acquired a new stake in Cognyte Software in the 2nd quarter valued at $56,000. Finally, State of Wyoming grew its position in Cognyte Software by 72.9% in the 2nd quarter. State of Wyoming now owns 9,794 shares of the medical device company's stock valued at $60,000 after purchasing an additional 4,130 shares during the period. Institutional investors own 72.92% of the company's stock.
About Cognyte Software
(
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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 also offers network intelligence analytics, open source and threat intelligence analytics, and operational intelligence analytics solutions.
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