Cognyte Software (NASDAQ:CGNT) Stock Rating Upgraded by Zacks Research

Cognyte Software (NASDAQ:CGNT) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.

A number of other research analysts also recently weighed in on the company. Weiss Ratings raised Cognyte Software from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Monday. Wall Street Zen upgraded Cognyte Software from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $13.50.

Cognyte Software Price Performance

Cognyte Software stock opened at $8.48 on Monday. Cognyte Software has a one year low of $6.29 and a one year high of $12.31. The company’s fifty day moving average price is $8.75 and its two-hundred day moving average price is $8.97. The company has a market capitalization of $626.67 million, a price-to-earnings ratio of 267.33 and a beta of 1.67.

Cognyte Software (NASDAQ:CGNT) last announced 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 company had revenue of $109.24 million during 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. As a group, sell-side analysts anticipate that Cognyte Software will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Cognyte Software

Hedge funds have recently bought and sold shares of the company. American Capital Management Inc. bought a new position in shares of Cognyte Software in the second quarter worth about $54,292,000. SG Americas Securities LLC boosted its stake in Cognyte Software by 97.3% during the 1st quarter. SG Americas Securities LLC now owns 398,246 shares of the company’s stock valued at $3,226,000 after purchasing an additional 196,427 shares during the period. Bank of America Corp DE boosted its stake in Cognyte Software by 37.7% during the 1st quarter. Bank of America Corp DE now owns 296,769 shares of the company’s stock valued at $2,404,000 after purchasing an additional 81,254 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Cognyte Software in the 2nd quarter valued at approximately $2,182,000. Finally, Bastion Asset Management Inc. acquired a new stake in Cognyte Software in the 1st quarter valued at approximately $1,615,000. 72.92% of the stock is currently owned by institutional investors.

Cognyte Software Company Profile

Cognyte Software Ltd. (NASDAQ: CGNT) develops software and technology solutions that help governments and other organizations transform large volumes of data into actionable intelligence. Its platforms are designed to support investigative, security and intelligence operations by enabling users to collect, analyze, visualize and manage information from multiple sources.

The company’s product portfolio includes solutions for digital intelligence, investigative analytics, network intelligence and cyber-related investigations.