Cognyte Software (NASDAQ:CGNT) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Cognyte Software (NASDAQ:CGNT) from a hold rating to a buy rating in a research report released on Saturday morning,Wall Street Zen reports.

Separately, Zacks Research raised shares of Cognyte Software from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cognyte Software presently has an average rating of “Hold” and a consensus price target of $13.50.

Cognyte Software Price Performance

Shares of CGNT stock opened at $8.02 on Friday. The firm has a 50-day moving average of $8.79 and a 200-day moving average of $8.92. The company has a market cap of $592.68 million, a P/E ratio of 269.33 and a beta of 1.67. Cognyte Software has a one year low of $6.29 and a one year high of $12.31.

Cognyte Software (NASDAQ:CGNT) last released its quarterly earnings results on Wednesday, September 9th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. Cognyte Software had a negative net margin of 0.01% and a positive return on equity of 1.31%. The company had revenue of $109.24 million for the quarter, compared to analyst estimates of $108.51 million. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. As a group, research analysts expect that Cognyte Software will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cognyte Software

Large investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its holdings in shares of Cognyte Software by 1,478.7% in the 4th 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 during the last quarter. Quarry LP purchased a new stake in Cognyte Software during the third quarter worth about $33,000. Osaic Holdings Inc. raised its position in Cognyte Software by 79.4% in the second quarter. Osaic Holdings Inc. now owns 3,634 shares of the company’s stock worth $34,000 after acquiring an additional 1,608 shares during the period. NewEdge Advisors LLC bought a new stake in Cognyte Software in the first quarter worth about $94,000. Finally, FourThought Financial Partners LLC purchased a new position in Cognyte Software in the fourth quarter valued at about $95,000. 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.