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

Cognyte Software Ltd. (NASDAQ:CGNT – Get Rating) has received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $8.00.

A number of equities analysts recently commented on the company. Stifel Nicolaus cut their price objective on Cognyte Software from $6.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, December 21st. StockNews.com downgraded Cognyte Software from a “hold” rating to a “sell” rating in a report on Tuesday, December 13th.

Cognyte Software Price Performance

Cognyte Software stock opened at $3.83 on Monday. The stock’s 50 day moving average is $3.62 and its 200 day moving average is $3.63. The firm has a market cap of $258.45 million, a P/E ratio of -2.59 and a beta of 1.35. Cognyte Software has a one year low of $2.31 and a one year high of $12.82.

Cognyte Software (NASDAQ:CGNT – Get Rating) last posted its quarterly earnings data on Tuesday, December 20th. The medical device company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.13). The company had revenue of $71.25 million during the quarter, compared to analyst estimates of $78.75 million. Cognyte Software had a negative return on equity of 47.95% and a negative net margin of 27.34%. Equities analysts anticipate that Cognyte Software will post -1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cognyte Software

A number of hedge funds have recently added to or reduced their stakes in the business. Bayesian Capital Management LP bought a new stake in shares of Cognyte Software during the third quarter valued at approximately $42,000. Quantbot Technologies LP bought a new stake in shares of Cognyte Software during the first quarter valued at approximately $45,000. Keebeck Alpha LP bought a new stake in shares of Cognyte Software during the second quarter valued at approximately $46,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Cognyte Software during the fourth quarter valued at approximately $61,000. Finally, Alpine Global Management LLC bought a new stake in shares of Cognyte Software during the fourth quarter valued at approximately $62,000. 84.93% of the stock is currently owned by institutional investors.

Cognyte Software Company Profile

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Cognyte Software Ltd. provides an investigative analytics software to governments and enterprises worldwide. Its Actionable Intelligence for a Safer World, an open software designed to help governments and enterprises accelerate and enhance the effectiveness of investigations. The company also offers network intelligence analytics, open source and threat intelligence analytics, and operational intelligence analytics solutions.