Cognyte Software (NASDAQ:CGNT) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Cognyte Software (NASDAQ:CGNT) from a hold rating to a strong-buy rating in a report released on Monday,Zacks reports.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Cognyte Software from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings upgraded shares of Cognyte Software from a “sell (d-)” rating to a “hold (c-)” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $13.50.

Cognyte Software Price Performance

Cognyte Software stock opened at $8.48 on Monday. The stock’s 50 day moving average is $8.75 and its 200 day moving average is $8.97. Cognyte Software has a one year low of $6.29 and a one year high of $12.31. The firm has a market cap of $626.67 million, a P/E ratio of 267.33 and a beta of 1.67.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew 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 valued at $31,000 after buying an additional 3,061 shares during the period. FourThought Financial Partners LLC bought a new position in Cognyte Software in the fourth quarter worth approximately $95,000. NewEdge Advisors LLC bought a new position in Cognyte Software in the first quarter worth approximately $94,000. Global Retirement Partners LLC acquired a new stake in Cognyte Software in the fourth quarter valued at approximately $113,000. Finally, Entropy Technologies LP acquired a new stake in Cognyte Software in the first quarter valued at approximately $107,000. 72.92% of the stock is owned by institutional investors.

About Cognyte Software

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.