Cognyte Software (NASDAQ:CGNT) PT Raised to $8.00 at Wedbush

Cognyte Software (NASDAQ:CGNT) had its price objective increased by Wedbush from $5.00 to $8.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the medical device company’s stock. Wedbush’s price target would indicate a potential upside of 18.87% from the company’s previous close.

Several other equities analysts have also weighed in on CGNT. StockNews.com raised shares of Cognyte Software from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Evercore ISI raised their price objective on shares of Cognyte Software from $5.00 to $7.50 and gave the company an “in-line” rating in a research report on Wednesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognyte Software in a research report on Tuesday.

Cognyte Software Price Performance

NASDAQ CGNT opened at $6.73 on Thursday. The company has a 50 day simple moving average of $7.60 and a 200-day simple moving average of $6.13. The firm has a market capitalization of $477.96 million, a price-to-earnings ratio of -29.26 and a beta of 1.68. Cognyte Software has a 52-week low of $4.00 and a 52-week high of $8.53.

Hedge Funds Weigh In On Cognyte Software

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new position in Cognyte Software during the fourth quarter valued at approximately $144,000. Goldman Sachs Group Inc. grew its holdings in Cognyte Software by 18.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 313,731 shares of the medical device company’s stock valued at $2,017,000 after purchasing an additional 48,595 shares during the last quarter. Virtu Financial LLC acquired a new position in Cognyte Software during the fourth quarter valued at approximately $167,000. Legal & General Group Plc grew its holdings in Cognyte Software by 5.9% during the fourth quarter. Legal & General Group Plc now owns 4,033,757 shares of the medical device company’s stock valued at $25,937,000 after purchasing an additional 224,801 shares during the last quarter. Finally, G2 Investment Partners Management LLC grew its holdings in Cognyte Software by 241.5% during the fourth quarter. G2 Investment Partners Management LLC now owns 1,366,163 shares of the medical device company’s stock valued at $8,784,000 after purchasing an additional 966,163 shares during the last quarter. Institutional investors and hedge funds own 72.92% of the company’s stock.

About Cognyte Software

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.