Cognyte Software (NASDAQ:CGNT) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Cognyte Software Ltd. (NASDAQ:CGNTGet Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CGNT. Wall Street Zen downgraded Cognyte Software from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Zacks Research cut Cognyte Software from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cognyte Software presently has an average rating of “Hold” and a consensus target price of $13.50.

View Our Latest Stock Report on CGNT

Cognyte Software Stock Down 1.4%

The stock has a market cap of $653.34 million, a PE ratio of -223.50 and a beta of 1.68. The firm has a 50-day simple moving average of $9.46 and a 200-day simple moving average of $8.88.

Cognyte Software (NASDAQ:CGNTGet Free Report) last announced 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). Cognyte Software had a negative net margin of 0.66% and a negative return on equity of 0.45%. The company had revenue of $105.49 million during the quarter, compared to analysts’ expectations of $105.04 million. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. On average, research analysts expect that Cognyte Software Ltd. will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CGNT. Rockefeller Capital Management L.P. lifted its holdings 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 buying an additional 3,061 shares in the last quarter. Quarry LP purchased a new position in Cognyte Software during the third quarter valued at approximately $33,000. Osaic Holdings Inc. grew its stake in Cognyte Software by 79.4% during the second 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 in the last quarter. NewEdge Advisors LLC bought a new stake in Cognyte Software during the 1st quarter worth approximately $94,000. Finally, FourThought Financial Partners LLC bought a new stake in Cognyte Software during the 4th quarter worth approximately $95,000. Hedge funds and other institutional investors own 72.92% of the company’s stock.

Cognyte Software Company Profile

(Get Free Report)

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.

Further Reading

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