Cognyte Software (NASDAQ:CGNT) Share Price Breaks Below Two Hundred Day Moving Average - Here's Why

Key Points

• Cognyte shares fell 8.5% and slipped below their 200-day moving average of $8.82, trading as low as $8.06 and last at $8.09.
• Analysts maintain a consensus Buy rating and a $13 price target; ratings include one Strong Buy, one Buy, and one Hold.
• In its latest reported quarter, Cognyte posted EPS of $0.15, beating the $0.09 consensus, and revenue of $109.24 million, above estimates of $108.51 million.

Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $8.82 and traded as low as $8.06. Cognyte Software shares last traded at $8.09, with a volume of 622,279 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CGNT. Weiss Ratings upgraded shares of Cognyte Software from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Zacks Research upgraded Cognyte Software from a "hold" rating to a "strong-buy" rating in a report on Monday, September 14th. Finally, Wall Street Zen upgraded Cognyte Software from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $13.00.

Cognyte Software Trading Down 8.5%

The firm has a fifty day moving average price of $8.78 and a 200 day moving average price of $8.82. The firm has a market cap of $597.85 million, a PE ratio of 294.67 and a beta of 1.63.

Cognyte Software (NASDAQ:CGNT - Get Free Report) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.06. The business had revenue of $109.24 million during the quarter, compared to the consensus estimate of $108.51 million. Cognyte Software had a negative net margin of 0.01% and a positive return on equity of 1.31%. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. As a group, equities analysts predict that Cognyte Software Ltd. will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CGNT. Signaturefd LLC lifted its stake in Cognyte Software by 28.8% during the third quarter. Signaturefd LLC now owns 5,844 shares of the company's stock worth $51,000 after purchasing an additional 1,306 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in 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 valued at $31,000 after purchasing an additional 3,061 shares during the last quarter. NewEdge Advisors LLC increased its stake in Cognyte Software by 43.5% in the second quarter. NewEdge Advisors LLC now owns 16,594 shares of the company's stock valued at $146,000 after purchasing an additional 5,034 shares during the last quarter. StoneX Group Inc. purchased a new position in Cognyte Software in the third quarter valued at approximately $105,000. Finally, Entropy Technologies LP acquired a new stake in Cognyte Software during the first quarter worth approximately $107,000. 72.92% of the stock is owned by institutional investors and hedge funds.

Cognyte Software Company Profile

Cognyte Software Ltd. is a provider of investigative analytics and intelligence software for government agencies, law enforcement organizations and other security-focused customers. Its solutions are designed to help users collect, process and analyze large volumes of information to support national security, public safety, cyber investigations and financial crime investigations.

The company's offerings include communications intelligence, cyber threat intelligence, open-source intelligence and financial intelligence capabilities.

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