Cognyte Software (NASDAQ:CGNT – Get Free Report)‘s stock had its “hold” rating reissued by analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports.
A number of other brokerages also recently issued reports on CGNT. StockNews.com upgraded shares of Cognyte Software from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 21st. Wedbush boosted their target price on shares of Cognyte Software from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, June 20th.
View Our Latest Stock Analysis on Cognyte Software
Cognyte Software Stock Performance
Cognyte Software (NASDAQ:CGNT – Get Free Report) last announced its quarterly earnings results on Tuesday, June 18th. The medical device company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. Cognyte Software had a negative net margin of 3.70% and a negative return on equity of 5.94%. The firm had revenue of $82.70 million during the quarter, compared to analysts’ expectations of $82.05 million. During the same period in the prior year, the company posted ($0.25) EPS. The company’s revenue was up 12.7% on a year-over-year basis. Equities analysts anticipate that Cognyte Software will post -0.31 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Cognyte Software
A number of large investors have recently modified their holdings of CGNT. Signaturefd LLC grew its holdings in Cognyte Software by 91.4% during the second quarter. Signaturefd LLC now owns 3,311 shares of the medical device company’s stock worth $25,000 after buying an additional 1,581 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Cognyte Software in the 2nd quarter worth $28,000. DT Investment Partners LLC purchased a new stake in shares of Cognyte Software in the second quarter valued at about $62,000. Covestor Ltd bought a new position in shares of Cognyte Software during the first quarter valued at about $73,000. Finally, Magnetar Financial LLC bought a new position in shares of Cognyte Software during the second quarter valued at about $117,000. 72.92% of the stock is currently owned by institutional investors.
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 offers network intelligence analytics, threat intelligence analytics, decision intelligence analytics, and operational intelligence analytics solutions.
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