Cognyte Software (NASDAQ:CGNT) Raised to Strong-Buy at Wall Street Zen

Cognyte Software (NASDAQ:CGNT) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Other research analysts have also recently issued reports about the stock. Lake Street Capital began coverage on shares of Cognyte Software in a report on Monday, March 2nd. They set a “buy” rating and a $13.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Cognyte Software in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.50.

Cognyte Software Price Performance

Shares of NASDAQ CGNT opened at $7.75 on Friday. Cognyte Software has a twelve month low of $6.29 and a twelve month high of $11.65. The firm has a market cap of $566.37 million, a PE ratio of -775.00 and a beta of 1.64. The business has a fifty day simple moving average of $8.01 and a two-hundred day simple moving average of $8.47.

Cognyte Software (NASDAQ:CGNT) last posted its quarterly earnings results 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 business had revenue of $106.24 million for the quarter, compared to the consensus estimate of $106.20 million. Cognyte Software had a positive return on equity of 0.74% and a negative net margin of 0.16%. On average, research analysts expect that Cognyte Software will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Cognyte Software

A number of hedge funds have recently made changes to their positions in CGNT. State of Alaska Department of Revenue bought a new stake in Cognyte Software during the third quarter valued at about $27,000. Rockefeller Capital Management L.P. raised its holdings in Cognyte Software by 1,478.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,268 shares of the company’s stock worth $31,000 after purchasing an additional 3,061 shares in the last quarter. Quarry LP bought a new position in Cognyte Software in the third quarter worth about $33,000. Osaic Holdings Inc. lifted its position in shares of Cognyte Software by 79.4% during the second quarter. Osaic Holdings Inc. now owns 3,634 shares of the company’s stock valued at $34,000 after buying an additional 1,608 shares during the last quarter. Finally, Virtus Advisers LLC purchased a new stake in shares of Cognyte Software during the second quarter valued at about $38,000. 72.92% of the stock is currently 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.