Cognyte Software Ltd. (NASDAQ:CGNT - Get Free Report) shares gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $8.22, but opened at $9.20. Cognyte Software shares last traded at $10.07, with a volume of 449,975 shares traded.
The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. The company had revenue of $94.51 million for the quarter, compared to the consensus estimate of $93.15 million. Cognyte Software had a negative return on equity of 13.30% and a negative net margin of 3.95%. During the same quarter in the prior year, the company posted ($0.23) EPS.
Analysts Set New Price Targets
Several equities analysts have recently commented on CGNT shares. StockNews.com upgraded Cognyte Software from a "hold" rating to a "buy" rating in a research note on Friday. Needham & Company LLC reissued a "hold" rating on shares of Cognyte Software in a research report on Wednesday, April 2nd.
Get Our Latest Analysis on CGNT
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Topline Capital Management LLC purchased a new position in Cognyte Software in the fourth quarter valued at about $78,025,000. Value Base Ltd. purchased a new position in Cognyte Software during the 4th quarter worth $49,471,000. William Blair Investment Management LLC increased its position in Cognyte Software by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 2,742,843 shares of the company's stock valued at $23,726,000 after buying an additional 67,024 shares in the last quarter. Westerly Capital Management LLC boosted its holdings in Cognyte Software by 20.8% in the fourth quarter. Westerly Capital Management LLC now owns 900,000 shares of the company's stock worth $7,785,000 after acquiring an additional 155,000 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Cognyte Software by 8.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 818,729 shares of the company's stock valued at $7,082,000 after acquiring an additional 66,712 shares in the last quarter. 72.92% of the stock is owned by institutional investors.
Cognyte Software Stock Performance
The business's 50 day moving average is $9.14 and its 200 day moving average is $8.27. The company has a market capitalization of $625.82 million, a price-to-earnings ratio of -45.66 and a beta of 1.76.
About Cognyte Software
(
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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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