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

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

A number of other analysts have also recently commented on the company. StockNews.com cut Cognyte Software from a strong-buy rating to a buy rating in a research report on Thursday, June 13th. Needham & Company LLC reissued a hold rating on shares of Cognyte Software in a research report on Tuesday, June 18th. Finally, Evercore ISI increased their price objective on shares of Cognyte Software from $5.00 to $7.50 and gave the stock an in-line rating in a research note on Wednesday, April 10th.

Cognyte Software Stock Up 0.9 %

Shares of NASDAQ:CGNT opened at $7.50 on Thursday. Cognyte Software has a 52 week low of $4.00 and a 52 week high of $8.70. The firm has a 50 day moving average of $7.41 and a 200 day moving average of $7.14. The company has a market capitalization of $532.65 million, a price-to-earnings ratio of -44.12 and a beta of 1.74.

Cognyte Software (NASDAQ:CGNT) last posted its 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. The company had revenue of $82.70 million for the quarter, compared to analyst estimates of $82.05 million. Cognyte Software had a negative return on equity of 5.94% and a negative net margin of 3.70%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.25) earnings per share. On average, sell-side analysts expect that Cognyte Software will post -0.3 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Tidal Investments LLC acquired a new position in Cognyte Software in the 1st quarter worth about $515,000. Quadrature Capital Ltd boosted its stake in shares of Cognyte Software by 111.0% in the first quarter. Quadrature Capital Ltd now owns 47,174 shares of the medical device company’s stock worth $391,000 after acquiring an additional 24,820 shares during the last quarter. Covestor Ltd acquired a new position in Cognyte Software in the 1st quarter valued at $73,000. Acadian Asset Management LLC lifted its holdings in Cognyte Software by 30.3% in the 1st quarter. Acadian Asset Management LLC now owns 2,304,970 shares of the medical device company’s stock valued at $19,041,000 after purchasing an additional 536,393 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its stake in Cognyte Software by 446.6% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 34,870 shares of the medical device company’s stock worth $288,000 after purchasing an additional 28,490 shares during the last quarter. 72.92% of the stock is owned by institutional investors and hedge funds.

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.