Cognyte Software (NASDAQ:CGNT) Stock Price Breaks Below 200-Day Moving Average – Should You Sell?

Cognyte Software Ltd. (NASDAQ:CGNT) passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $8.82 and traded as low as $8.06. Cognyte Software shares last traded at $8.09, with a volume of 622,279 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CGNT. Zacks Research upgraded shares of Cognyte Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 14th. Weiss Ratings upgraded shares of Cognyte Software from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Wall Street Zen upgraded shares of Cognyte Software from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $13.00.

Cognyte Software Price Performance

The firm’s 50 day moving average price is $8.78 and its two-hundred day moving average price is $8.82. The firm has a market cap of $597.85 million, a price-to-earnings ratio of 294.67 and a beta of 1.63.

Cognyte Software (NASDAQ:CGNT) last released its earnings results on Wednesday, September 9th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. Cognyte Software had a positive return on equity of 1.31% and a negative net margin of 0.01%. The business 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. On average, analysts anticipate that Cognyte Software Ltd. will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC boosted its position in shares of Cognyte Software by 28.8% in the 3rd quarter. Signaturefd LLC now owns 5,844 shares of the company’s stock worth $51,000 after buying an additional 1,306 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Cognyte Software by 1,478.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 3,268 shares of the company’s stock valued at $31,000 after acquiring an additional 3,061 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Cognyte Software by 43.5% during the 2nd quarter. NewEdge Advisors LLC now owns 16,594 shares of the company’s stock valued at $146,000 after acquiring an additional 5,034 shares in the last quarter. StoneX Group Inc. purchased a new position in Cognyte Software during the 3rd quarter valued at about $105,000. Finally, Entropy Technologies LP purchased a new position in Cognyte Software during the 1st quarter valued at about $107,000. Institutional investors and hedge funds own 72.92% of the company’s stock.

About Cognyte Software

Cognyte Software Ltd. is a provider of investigative analytics and intelligence software for government agencies, law enforcement organizations and other security-focused customers. Its solutions are designed to help users collect, process and analyze large volumes of information to support national security, public safety, cyber investigations and financial crime investigations.

The company’s offerings include communications intelligence, cyber threat intelligence, open-source intelligence and financial intelligence capabilities.