Cognyte Software (NASDAQ:CGNT) Stock Rating Cut to Hold at Zacks Research

by · The Markets Daily

Zacks Research downgraded shares of Cognyte Software (NASDAQ:CGNT – Free Report) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks reports.

Other research analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of Cognyte Software from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday. Wall Street Zen upgraded shares of Cognyte Software from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 10th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $13.00.

Read Our Latest Stock Analysis on CGNT

Cognyte Software Stock Down 1.9%

NASDAQ:CGNT opened at $8.46 on Monday. Cognyte Software has a 1-year low of $6.29 and a 1-year high of $12.31. The firm has a market capitalization of $625.19 million, a price-to-earnings ratio of 287.33 and a beta of 1.63. The stock has a fifty day simple moving average of $8.75 and a 200 day simple moving average of $8.81.

Cognyte Software (NASDAQ:CGNT – Get Free Report) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $109.24 million for the quarter, compared to analysts’ expectations of $108.51 million. Cognyte Software had a positive return on equity of 1.31% and a negative net margin of 0.01%. Cognyte Software has set its FY 2027 guidance at 0.470-0.470 EPS. Equities analysts predict that Cognyte Software will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. American Capital Management Inc. purchased a new position in shares of Cognyte Software during the second quarter valued at $54,292,000. Public Employees Retirement System of Ohio acquired a new position in Cognyte Software during the second quarter valued at $2,182,000. Bastion Asset Management Inc. purchased a new stake in Cognyte Software in the 1st quarter worth about $1,615,000. Bank of America Corp DE lifted its stake in Cognyte Software by 37.7% in the 1st quarter. Bank of America Corp DE now owns 296,769 shares of the company’s stock worth $2,404,000 after acquiring an additional 81,254 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in Cognyte Software by 137.3% in the 2nd quarter. Tidal Investments LLC now owns 119,440 shares of the company’s stock worth $1,049,000 after acquiring an additional 69,103 shares in the last quarter. Hedge funds and other institutional investors own 72.92% of the company’s stock.

About Cognyte Software

(Get Free Report)

Cognyte Software Ltd. develops analytics software for organizations that need to collect, process and analyze large volumes of data. Its platforms help customers combine information from multiple sources to identify patterns, connections and potential threats. The company’s solutions support intelligence analysis, investigations and operational decision-making. Customers include government and law enforcement agencies, national security organizations and communications service providers. Cognyte is based in Herzliya, Israel, and serves customers internationally.

Further Reading