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

Cognyte Software Ltd. (NASDAQ:CGNT) has earned a consensus recommendation of “Hold” from the five analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $13.50.

CGNT has been the topic of several research reports. Wall Street Zen downgraded shares of Cognyte Software from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Zacks Research lowered shares of Cognyte Software from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 24th.

Cognyte Software Price Performance

NASDAQ:CGNT remained flat at $8.99 during trading hours on Friday. 671,412 shares of the company were exchanged, compared to its average volume of 776,433. The firm has a 50 day simple moving average of $9.52 and a 200 day simple moving average of $8.91. The stock has a market cap of $656.99 million, a P/E ratio of -224.75 and a beta of 1.68. Cognyte Software has a 52 week low of $6.29 and a 52 week high of $12.31.

Cognyte Software (NASDAQ:CGNT) last posted its earnings results on Wednesday, June 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $105.49 million during the quarter, compared to analysts’ expectations of $105.04 million. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. On average, analysts expect that Cognyte Software will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Cognyte Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CGNT. Silverberg Bernstein Capital Management LLC grew 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 valued at $1,328,000 after purchasing an additional 1,497 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Cognyte Software by 79.4% during the second quarter. Osaic Holdings Inc. now owns 3,634 shares of the company’s stock worth $34,000 after buying an additional 1,608 shares during the last quarter. Vident Advisory LLC grew its holdings in Cognyte Software by 2.6% in the 4th quarter. Vident Advisory LLC now owns 88,648 shares of the company’s stock valued at $833,000 after buying an additional 2,225 shares in the last quarter. Sei Investments Co. grew its holdings in Cognyte Software by 2.2% in the 2nd quarter. Sei Investments Co. now owns 140,882 shares of the company’s stock valued at $1,302,000 after buying an additional 2,988 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake 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 acquiring an additional 3,061 shares during the last quarter. 72.92% of the stock is owned by institutional investors and hedge funds.

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.