Cognyte Software (NASDAQ:CGNT) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Cognyte Software Ltd. (NASDAQ:CGNT) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.62 and traded as high as $10.75. Cognyte Software shares last traded at $10.57, with a volume of 1,054,789 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CGNT. Zacks Research upgraded shares of Cognyte Software from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Cognyte Software in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Cognyte Software from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 28th. Finally, 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 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cognyte Software has an average rating of “Moderate Buy” and an average target price of $13.50.

Cognyte Software Price Performance

The firm has a market capitalization of $772.46 million, a PE ratio of -1,057.00 and a beta of 1.58. The company’s fifty day simple moving average is $8.63 and its 200 day simple moving average is $8.62.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings data on Wednesday, March 25th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.01 by $0.09. The business had revenue of $106.24 million for the quarter, compared to the consensus estimate 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 Ltd. will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cognyte Software

Several institutional investors have recently added to or reduced their stakes in the business. Bastion Asset Management Inc. purchased a new stake in Cognyte Software during the first quarter valued at about $1,615,000. Y Intercept Hong Kong Ltd purchased a new stake in Cognyte Software during the first quarter valued at about $657,000. Yelin Lapidot Holdings Management Ltd. lifted its holdings in Cognyte Software by 278.3% during the first quarter. Yelin Lapidot Holdings Management Ltd. now owns 100,979 shares of the company’s stock valued at $818,000 after purchasing an additional 74,289 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Cognyte Software by 97.3% during the first quarter. SG Americas Securities LLC now owns 398,246 shares of the company’s stock valued at $3,226,000 after purchasing an additional 196,427 shares during the last quarter. Finally, Silverberg Bernstein Capital Management LLC lifted its holdings 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 valued at $1,328,000 after purchasing an additional 1,497 shares during the last quarter. 72.92% of the stock is owned by hedge funds and other institutional investors.

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.