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

Cognyte Software (NASDAQ:CGNT) had its price objective boosted by stock analysts at Wedbush from $8.00 to $9.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the medical device company’s stock. Wedbush’s price target would suggest a potential upside of 18.42% from the stock’s current price.

CGNT has been the subject of several other research reports. Evercore ISI increased 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, April 10th. StockNews.com cut Cognyte Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognyte Software in a research note on Tuesday.

Cognyte Software Stock Down 5.1 %

Shares of NASDAQ:CGNT opened at $7.60 on Thursday. Cognyte Software has a 52-week low of $4.00 and a 52-week high of $8.70. The company has a 50 day moving average of $7.38 and a two-hundred day moving average of $7.10. The company has a market capitalization of $539.75 million, a price-to-earnings ratio of -44.71 and a beta of 1.74.

Cognyte Software (NASDAQ:CGNT) 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. Cognyte Software had a negative net margin of 3.70% and a negative return on equity of 5.98%. The company had revenue of $82.70 million during the quarter, compared to the consensus estimate of $82.05 million. During the same quarter last year, the company earned ($0.25) earnings per share. Cognyte Software’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts anticipate that Cognyte Software will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Cognyte Software

Large investors have recently added to or reduced their stakes in the company. G2 Investment Partners Management LLC lifted its stake 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 worth $8,784,000 after purchasing an additional 966,163 shares during the last quarter. Citigroup Inc. lifted its stake in Cognyte Software by 3.0% during the third quarter. Citigroup Inc. now owns 138,749 shares of the medical device company’s stock worth $667,000 after purchasing an additional 3,993 shares during the last quarter. Legato Capital Management LLC bought a new position in Cognyte Software during the fourth quarter worth $864,000. Acadian Asset Management LLC lifted its stake in 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 during the last quarter. Finally, Jump Financial LLC lifted its stake in Cognyte Software by 52.9% during the fourth quarter. Jump Financial LLC now owns 50,200 shares of the medical device company’s stock worth $323,000 after purchasing an additional 17,363 shares during the last quarter. 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.