Cognyte Software Ltd. (NASDAQ:CGNT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Cognyte Software Ltd. (NASDAQ:CGNT) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $13.50.

Several equities analysts have recently weighed in on CGNT shares. Zacks Research raised shares of Cognyte Software from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 8th. Wall Street Zen lowered shares of Cognyte Software from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cognyte Software in a research report on Wednesday, January 21st. Finally, Lake Street Capital started coverage on shares of Cognyte Software in a research report on Monday, March 2nd. They issued a “buy” rating and a $13.00 price objective on the stock.

Hedge Funds Weigh In On Cognyte Software

Large investors have recently modified their holdings of the stock. Millennium Management LLC increased its position in Cognyte Software by 101.9% during the first quarter. Millennium Management LLC now owns 921,853 shares of the company’s stock worth $7,190,000 after acquiring an additional 465,307 shares during the period. Goldman Sachs Group Inc. increased its position in Cognyte Software by 52.6% during the first quarter. Goldman Sachs Group Inc. now owns 131,140 shares of the company’s stock worth $1,023,000 after acquiring an additional 45,229 shares during the period. JPMorgan Chase & Co. increased its position in Cognyte Software by 36.3% during the second quarter. JPMorgan Chase & Co. now owns 582,139 shares of the company’s stock worth $5,379,000 after acquiring an additional 154,955 shares during the period. Marshall Wace LLP increased its position in Cognyte Software by 77.5% during the second quarter. Marshall Wace LLP now owns 756,876 shares of the company’s stock worth $6,994,000 after acquiring an additional 330,569 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in Cognyte Software by 25.4% during the second quarter. Qube Research & Technologies Ltd now owns 224,053 shares of the company’s stock worth $2,070,000 after acquiring an additional 45,449 shares during the period. 72.92% of the stock is owned by institutional investors.

Cognyte Software Price Performance

Shares of CGNT opened at $9.79 on Friday. The firm has a market capitalization of $715.45 million, a PE ratio of -979.00 and a beta of 1.58. The company’s 50-day moving average is $9.07 and its 200-day moving average is $8.73. Cognyte Software has a fifty-two week low of $6.29 and a fifty-two week high of $11.65.

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

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.