StockNews.com enhanced actions of Cognite Software (NASDAQ:CGNT – Get a rating) from a hold rating to a buy rating in a report released Thursday morning.
A number of other equity research analysts have also weighed in on the company recently. Wedbush reduced its price target on Cognyte Software from $17.00 to $9.00 and set a neutral rating for the company in a Wednesday, April 6 research note. Stifel Nicolaus cut his price target on Cognyte Software from $21.00 to $13.00 and set a buy rating on the stock in a Wednesday April 6 research note. Zacks Investment Research downgraded Cognyte Software from a Hold rating to a Strong Sell rating in a Tuesday, April 12 research note. Needham & Company LLC downgraded Cognyte Software from a buy rating to a hold rating in a Tuesday, April 5 research note. Finally, Evercore ISI reduced its price target on Cognyte Software from $25.00 to $12.00 and set an outperform rating on the stock in a Wednesday, April 6 research note. One analyst rated the security with a sell rating, two issued a hold rating and four gave the security a buy rating. According to MarketBeat.com, Cognyte Software currently has an average rating of Hold and an average price target of $16.89.
Shares of NASDAQ CGNT opened at $6.72 on Thursday. Cognyte Software has a one-year minimum of $5.96 and a one-year maximum of $28.55. The company has a 50-day moving average price of $9.00 and a two-hundred-day moving average price of $13.30. The company has a market capitalization of $451.72 million, a PE ratio of -29.22 and a beta of 2.03.
Cognite Software (NASDAQ:CGNT – Get a rating) last released its quarterly results on Tuesday, April 5. The medical device company reported earnings per share of $0.16 for the quarter, missing analyst consensus estimates of $0.22 per ($0.06). Cognyte Software posted a negative return on equity of 1.87% and a negative net margin of 3.14%. The company posted revenue of $125.00 million for the quarter, compared to $129.56 million expected by analysts. In the same period last year, the company earned $0.36 per share. The company’s revenue for the quarter increased 0.8% year over year. On average, equity research analysts expect Cognyte Software to post -0.05 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently changed their holdings in the company. Man Group plc increased its position in Cognyte Software by 10.3% in the third quarter. Man Group plc now owns 10,804 shares in the medical device company worth $222,000 after buying an additional 1,010 shares during the period. Commonwealth Equity Services LLC increased its position in Cognyte Software by 13.7% in the third quarter. Commonwealth Equity Services LLC now owns 11,611 shares of the medical device company worth $238,000 after purchasing an additional 1,400 shares during the period. Signaturefd LLC increased its position in Cognyte Software by 17.4% in Q1. Signaturefd LLC now owns 12,062 shares of the medical device company worth $136,000 after purchasing an additional 1,791 shares during the period. Cullen Frost Bankers Inc. increased its position in Cognyte Software by 19.2% in the fourth quarter. Cullen Frost Bankers Inc. now owns 11,155 shares of the medical device company worth $175,000 after buying an additional 1,800 shares during the period. Finally, Macquarie Group Ltd. bought a new position in Cognyte Software in Q3 for a value of approximately $37,000. 84.22% of the shares are currently held by institutional investors.
Cognite Software Company Profile (Get a rating)
Cognite Software Ltd. provides forensic analysis software to governments and businesses around the world. Its Actionable Intelligence for a Safer World, an open source software designed to help governments and businesses speed up and improve the efficiency of investigations. The company also offers network intelligence analytics, open source and threat intelligence analytics, and operational intelligence analytics solutions.
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