Cognyte Software Ltd. (NASDAQ:CGNT) Receives Consensus Rating of “Hold” from Brokerages

Cognyte Software Ltd. (NASDAQ:CGNTGet Free Report) has earned an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $13.50.

Several research firms recently commented on CGNT. Lake Street Capital began coverage on shares of Cognyte Software in a research note on Monday, March 2nd. They set a “buy” rating and a $13.00 price objective on the stock. Zacks Research lowered shares of Cognyte Software from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen lowered shares of Cognyte Software from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th.

View Our Latest Stock Analysis on Cognyte Software

Cognyte Software Trading Down 1.8%

Shares of CGNT opened at $8.69 on Wednesday. The firm’s 50-day moving average price is $9.74 and its 200-day moving average price is $8.95. The firm has a market capitalization of $635.07 million, a price-to-earnings ratio of -217.25 and a beta of 1.64. Cognyte Software has a 1-year low of $6.29 and a 1-year high of $12.31.

Cognyte Software (NASDAQ:CGNTGet Free Report) last announced its earnings results on Wednesday, June 3rd. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $105.04 million. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. On average, research analysts forecast that Cognyte Software will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Cognyte Software

Several hedge funds have recently bought and sold shares of the business. Millennium Management LLC raised its holdings in Cognyte Software by 101.9% in the first quarter. Millennium Management LLC now owns 921,853 shares of the company’s stock worth $7,190,000 after buying an additional 465,307 shares during the last quarter. Samjo Management LLC raised its holdings in Cognyte Software by 64.4% in the fourth quarter. Samjo Management LLC now owns 896,325 shares of the company’s stock worth $8,425,000 after buying an additional 351,150 shares during the last quarter. Marshall Wace LLP raised its holdings in Cognyte Software by 77.5% in the second quarter. Marshall Wace LLP now owns 756,876 shares of the company’s stock worth $6,994,000 after buying an additional 330,569 shares during the last quarter. Westerly Capital Management LLC raised its holdings in Cognyte Software by 29.4% in the third quarter. Westerly Capital Management LLC now owns 1,100,000 shares of the company’s stock worth $9,240,000 after buying an additional 250,000 shares during the last quarter. Finally, Archon Capital Management LLC purchased a new position in Cognyte Software in the fourth quarter worth about $1,958,000. 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.

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Analyst Recommendations for Cognyte Software (NASDAQ:CGNT)

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