Cognyte Software (NASDAQ:CGNT) Price Target Raised to $9.00

Cognyte Software (NASDAQ:CGNTFree Report) had its price target raised by Wedbush from $8.00 to $9.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the medical device company’s stock.

Several other research firms also recently weighed in on CGNT. Evercore ISI increased their target price on Cognyte Software from $5.00 to $7.50 and gave the stock an in-line rating in a research report on Wednesday, April 10th. downgraded shares of Cognyte Software from a strong-buy rating to a buy rating in a report on Thursday, June 13th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Cognyte Software in a research note on Tuesday, June 18th.

Read Our Latest Stock Report on CGNT

Cognyte Software Price Performance

Shares of Cognyte Software stock opened at $7.50 on Thursday. Cognyte Software has a 1 year low of $4.00 and a 1 year high of $8.70. The business has a 50 day moving average price of $7.41 and a 200 day moving average price of $7.12. The company has a market capitalization of $532.65 million, a P/E ratio of -44.12 and a beta of 1.74.

Cognyte Software (NASDAQ:CGNTGet Free Report) last issued its quarterly earnings data 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. The business had revenue of $82.70 million for the quarter, compared to the consensus estimate of $82.05 million. Cognyte Software had a negative return on equity of 5.94% and a negative net margin of 3.70%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.25) earnings per share. As a group, research analysts expect that Cognyte Software will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Cognyte Software

Hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC lifted its position in shares of Cognyte Software by 203.6% during the third quarter. Acadian Asset Management LLC now owns 1,578,537 shares of the medical device company’s stock worth $7,577,000 after purchasing an additional 1,058,675 shares in the last quarter. G2 Investment Partners Management LLC boosted its holdings in Cognyte Software by 241.5% in 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. Essex Investment Management Co. LLC purchased a new stake in Cognyte Software during the 4th quarter worth approximately $2,149,000. Scalar Gauge Management LLC acquired a new position in shares of Cognyte Software in the 4th quarter valued at approximately $2,001,000. Finally, Legato Capital Management LLC purchased a new position in shares of Cognyte Software during the 4th quarter valued at approximately $864,000. Hedge funds and other institutional investors own 72.92% of the company’s stock.

Cognyte Software Company Profile

(Get Free Report)

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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