Wall Street Zen Downgrades Cognyte Software (NASDAQ:CGNT) to Hold

Key Points

• Cognyte Software has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a shift in analysts' outlook on the stock's performance.
• Despite the downgrade, the company's consensus target price remains at $14.00, with one analyst rating it a buy, two rating it a hold, and one rating it a sell.
• The stock has experienced a 3.5% decline, trading currently at $8.10, significantly below its one-year high of $11.65.

Cognyte Software (NASDAQ:CGNT - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

A number of other research firms also recently issued reports on CGNT. Zacks Research upgraded shares of Cognyte Software to a "hold" rating in a research report on Monday, October 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognyte Software in a research note on Monday, July 28th. Roth Capital assumed coverage on Cognyte Software in a research note on Friday, October 3rd. They issued a "buy" rating and a $14.00 price target for the company. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cognyte Software in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cognyte Software has a consensus rating of "Hold" and a consensus target price of $14.00.

Cognyte Software Trading Down 3.5%

Cognyte Software stock opened at $8.10 on Friday. Cognyte Software has a 1 year low of $6.38 and a 1 year high of $11.65. The company has a market cap of $591.06 million, a PE ratio of -134.98 and a beta of 1.63. The company's 50-day moving average is $8.63 and its two-hundred day moving average is $9.24.

Institutional Trading of Cognyte Software

A number of large investors have recently bought and sold shares of CGNT. Signaturefd LLC increased its stake in Cognyte Software by 119.2% during the 1st quarter. Signaturefd LLC now owns 3,968 shares of the company's stock worth $31,000 after purchasing an additional 2,158 shares in the last quarter. Osaic Holdings Inc. increased its stake in Cognyte Software by 79.4% during the 2nd quarter. Osaic Holdings Inc. now owns 3,634 shares of the company's stock worth $34,000 after purchasing an additional 1,608 shares in the last quarter. Virtus Advisers LLC bought a new stake in Cognyte Software during the 2nd quarter worth approximately $38,000. Corton Capital Inc. bought a new stake in Cognyte Software during the 2nd quarter worth approximately $95,000. Finally, Magnetar Financial LLC bought a new position in shares of Cognyte Software during the 1st quarter worth approximately $106,000. 72.92% of the stock is owned by institutional investors.

About Cognyte Software

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 offers network intelligence analytics, threat intelligence analytics, decision intelligence analytics, and operational intelligence analytics solutions.

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