Cognyte Software (NASDAQ:CGNT) Earns Buy Rating from Analysts at Lake Street Capital

Lake Street Capital assumed coverage on shares of Cognyte Software (NASDAQ:CGNT) in a report published on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $13.00 price objective on the stock.

A number of other research analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of Cognyte Software from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Cognyte Software in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Cognyte Software currently has an average rating of “Hold” and an average price target of $13.50.

Cognyte Software Stock Performance

Shares of Cognyte Software stock opened at $8.19 on Monday. Cognyte Software has a 52 week low of $6.29 and a 52 week high of $11.65. The stock has a 50 day moving average price of $8.36 and a two-hundred day moving average price of $8.52. The stock has a market capitalization of $597.62 million, a PE ratio of -102.38 and a beta of 1.64.

Cognyte Software (NASDAQ:CGNT) last issued its earnings results on Tuesday, December 9th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. Cognyte Software had a negative return on equity of 2.24% and a negative net margin of 1.45%.The company had revenue of $100.74 million for the quarter, compared to analyst estimates of $99.58 million. Cognyte Software has set its FY 2026 guidance at 0.240-0.240 EPS. Research analysts forecast that Cognyte Software will post -0.2 EPS for the current year.

Hedge Funds Weigh In On Cognyte Software

Institutional investors have recently bought and sold shares of the company. Topline Capital Management LLC increased its position in Cognyte Software by 2.4% in the third quarter. Topline Capital Management LLC now owns 7,195,619 shares of the company’s stock worth $60,443,000 after buying an additional 168,329 shares during the last quarter. American Capital Management Inc. grew its stake in shares of Cognyte Software by 0.6% during the 3rd quarter. American Capital Management Inc. now owns 6,751,962 shares of the company’s stock worth $56,716,000 after acquiring an additional 39,721 shares during the period. Acadian Asset Management LLC grew its stake in shares of Cognyte Software by 4.9% during the 2nd quarter. Acadian Asset Management LLC now owns 2,784,080 shares of the company’s stock worth $25,699,000 after acquiring an additional 129,251 shares during the period. Westerly Capital Management LLC increased its holdings in Cognyte Software by 5.0% in the 4th quarter. Westerly Capital Management LLC now owns 1,155,000 shares of the company’s stock worth $10,857,000 after acquiring an additional 55,000 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Cognyte Software by 19.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,083,646 shares of the company’s stock valued at $10,013,000 after acquiring an additional 175,569 shares during the period. Hedge funds and other institutional investors own 72.92% of the company’s stock.

About Cognyte Software

Cognyte Software Ltd. is a global provider of security analytics solutions that was spun off from NICE Ltd. in early 2021. Headquartered in Israel, the company delivers specialized software and services designed to help government agencies, law enforcement organizations and critical infrastructure operators process and analyze large volumes of data for intelligence and investigative purposes.

The company’s core offerings include advanced analytics platforms that aggregate and visualize structured and unstructured data from diverse sources, such as communications metadata, open-source intelligence and sensor feeds.