Cognyte Software (NASDAQ:CGNT) Shares Gap Down to $7.60

Cognyte Software Ltd. (NASDAQ:CGNT)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $7.60, but opened at $7.28. Cognyte Software shares last traded at $7.52, with a volume of 37,989 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CGNT shares. Evercore ISI increased their price objective on Cognyte Software from $5.00 to $7.50 and gave the company an “in-line” rating in a research note on Wednesday, April 10th. StockNews.com raised Cognyte Software from a “buy” rating to a “strong-buy” rating in a report on Friday. Wedbush increased their target price on shares of Cognyte Software from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognyte Software in a research note on Tuesday.

Cognyte Software Trading Up 0.9 %

The company’s 50 day moving average price is $7.40 and its 200-day moving average price is $7.10. The company has a market capitalization of $532.65 million, a PE ratio of -44.12 and a beta of 1.74.

Cognyte Software (NASDAQ:CGNT) last announced 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 company had revenue of $82.70 million during the quarter, compared to analysts’ expectations of $82.05 million. Cognyte Software had a negative net margin of 3.70% and a negative return on equity of 5.98%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.25) EPS. As a group, analysts predict that Cognyte Software Ltd. will post -0.3 earnings per share for the current year.

Hedge Funds Weigh In On Cognyte Software

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new position in shares of Cognyte Software during the 4th quarter valued at $37,000. Covestor Ltd acquired a new position in shares of Cognyte Software during the 1st quarter valued at $73,000. Russell Investments Group Ltd. lifted its holdings in Cognyte Software by 8,624.3% in the 4th quarter. Russell Investments Group Ltd. now owns 20,066 shares of the medical device company’s stock worth $129,000 after buying an additional 19,836 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Cognyte Software by 56.1% in the 4th quarter. Mackenzie Financial Corp now owns 21,986 shares of the medical device company’s stock worth $141,000 after buying an additional 7,899 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Cognyte Software in the 4th quarter worth $144,000. Institutional investors and hedge funds own 72.92% of the company’s stock.

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.