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

Shares of Cognyte Software Ltd. (NASDAQ:CGNT) have been given a consensus rating of “Moderate Buy” by the five analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $13.50.

A number of equities research analysts recently weighed in on the stock. Zacks Research upgraded shares of Cognyte Software from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 8th. Wall Street Zen upgraded shares of Cognyte Software from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 28th. Lake Street Capital began coverage on shares of Cognyte Software in a research report on Monday, March 2nd. They set a “buy” rating and a $13.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cognyte Software in a report on Wednesday, January 21st.

Cognyte Software Price Performance

CGNT stock opened at $10.06 on Tuesday. The stock has a market capitalization of $735.18 million, a PE ratio of -1,006.00 and a beta of 1.53. The company’s 50-day moving average is $8.08 and its 200-day moving average is $8.52. Cognyte Software has a 1 year low of $6.29 and a 1 year high of $11.65.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings data on Wednesday, March 25th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.09. The company had revenue of $106.24 million for the quarter, compared to analysts’ expectations of $106.20 million. Cognyte Software had a negative net margin of 0.16% and a positive return on equity of 0.74%. On average, analysts anticipate that Cognyte Software will post 0.17 earnings per share for the current fiscal year.

Institutional Trading of Cognyte Software

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Scalar Gauge Management LLC raised its position in Cognyte Software by 44.8% in the 3rd quarter. Scalar Gauge Management LLC now owns 789,099 shares of the company’s stock worth $6,628,000 after purchasing an additional 244,067 shares during the period. Topline Capital Management LLC boosted its stake in shares of Cognyte Software by 2.4% during the 3rd quarter. Topline Capital Management LLC now owns 7,195,619 shares of the company’s stock valued at $60,443,000 after purchasing an additional 168,329 shares in the last quarter. CM Management LLC boosted its stake in shares of Cognyte Software by 60.0% during the 3rd quarter. CM Management LLC now owns 160,000 shares of the company’s stock valued at $1,344,000 after purchasing an additional 60,000 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Cognyte Software during the 3rd quarter valued at about $27,000. Finally, Silverberg Bernstein Capital Management LLC boosted its stake in Cognyte Software by 0.9% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 163,997 shares of the company’s stock worth $1,328,000 after acquiring an additional 1,497 shares in the last quarter. Hedge funds and other institutional investors own 72.92% of the company’s stock.

Cognyte Software Company Profile

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.