Cognyte Software Ltd. (NASDAQ:CGNT) Receives Average Recommendation of “Buy” from Brokerages

Shares of Cognyte Software Ltd. (NASDAQ:CGNT) have earned an average recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $34.87.

Several research firms have recently weighed in on CGNT. William Blair began coverage on Cognyte Software in a research note on Monday, July 26th. They set an “outperform” rating and a $24.33 price target for the company. Wedbush cut their price target on Cognyte Software from $40.00 to $32.00 and set an “in-line” rating for the company in a research note on Tuesday, September 21st. Needham & Company LLC began coverage on Cognyte Software in a research note on Thursday, July 15th. They set a “buy” rating and a $36.00 price target for the company. Finally, Zacks Investment Research downgraded Cognyte Software from a “buy” rating to a “hold” rating in a research note on Monday, September 27th.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC bought a new position in Cognyte Software during the 2nd quarter worth approximately $170,272,000. Senvest Management LLC bought a new position in Cognyte Software during the 2nd quarter worth approximately $83,498,000. RGM Capital LLC bought a new position in Cognyte Software during the 2nd quarter worth approximately $73,325,000. American Capital Management Inc. bought a new position in Cognyte Software during the 2nd quarter worth approximately $57,642,000. Finally, Cardinal Capital Management LLC CT bought a new position in Cognyte Software during the 2nd quarter worth approximately $43,794,000. Institutional investors and hedge funds own 87.78% of the company’s stock.

NASDAQ:CGNT traded up $0.11 during trading on Friday, reaching $22.69. The company’s stock had a trading volume of 106,793 shares, compared to its average volume of 846,939. The firm has a market cap of $1.50 billion and a price-to-earnings ratio of 21.92. The firm has a 50 day moving average of $25.24 and a 200-day moving average of $24.99. Cognyte Software has a 12 month low of $19.83 and a 12 month high of $38.00.

Cognyte Software (NASDAQ:CGNT) last announced its quarterly earnings data on Monday, September 20th. The medical device company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $116.00 million during the quarter, compared to the consensus estimate of $115.55 million. The business’s revenue was down .3% on a year-over-year basis. Equities analysts forecast that Cognyte Software will post 0.08 earnings per share for the current year.

Cognyte Software Company Profile

Cognyte Software Ltd. provides security analytics software to governments and enterprises worldwide. The company's open software fuses, analyzes, and visualizes disparate data sets for security organizations. It offers investigative analytics, operational intelligence analytics, and threat intelligence analytics solutions.

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Analyst Recommendations for Cognyte Software (NASDAQ:CGNT)

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