Cognyte Software (NASDAQ:CGNT) Rating Lowered to “Strong Sell” at Zacks Research

Cognyte Software (NASDAQ:CGNT) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

A number of other brokerages have also commented on CGNT. Lake Street Capital started coverage on shares of Cognyte Software in a research note on Monday, March 2nd. They issued a “buy” rating and a $13.00 price target for the company. Wall Street Zen cut shares of Cognyte Software from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.50.

Cognyte Software Trading Down 0.3%

Cognyte Software stock opened at $7.96 on Wednesday. Cognyte Software has a 12 month low of $6.29 and a 12 month high of $12.31. The stock has a fifty day simple moving average of $9.67 and a two-hundred day simple moving average of $8.94. The firm has a market cap of $581.72 million, a price-to-earnings ratio of -199.00 and a beta of 1.64.

Cognyte Software (NASDAQ:CGNT) last announced its quarterly earnings results on Wednesday, June 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.07). Cognyte Software had a negative net margin of 0.66% and a negative return on equity of 0.45%. The business had revenue of $105.49 million for the quarter, compared to the consensus estimate of $105.04 million. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. On average, equities research analysts forecast that Cognyte Software will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Cognyte Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Silverberg Bernstein Capital Management LLC boosted its position in shares of Cognyte Software by 0.9% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 163,997 shares of the company’s stock worth $1,328,000 after purchasing an additional 1,497 shares during the period. Osaic Holdings Inc. increased its stake in Cognyte Software by 79.4% in the 2nd quarter. Osaic Holdings Inc. now owns 3,634 shares of the company’s stock worth $34,000 after buying an additional 1,608 shares in the last quarter. Vident Advisory LLC raised its holdings in Cognyte Software by 2.6% during the fourth quarter. Vident Advisory LLC now owns 88,648 shares of the company’s stock valued at $833,000 after acquiring an additional 2,225 shares during the period. Sei Investments Co. lifted its position in shares of Cognyte Software by 2.2% in the second quarter. Sei Investments Co. now owns 140,882 shares of the company’s stock valued at $1,302,000 after acquiring an additional 2,988 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in shares of 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 valued at $31,000 after acquiring an additional 3,061 shares in the last quarter. Institutional investors own 72.92% of the company’s stock.

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.