Market Analysts see Cognyte Software Ltd. [CGNT] falling to $6. Time to buy?

Cognyte Software Ltd. [NASDAQ: CGNT] plunged by -$0.05 during the normal trading session on Thursday and reaching a high of $3.82 during the day while it closed the day at $3.74. The company report on September 28, 2022 that Cognyte Announces Second Quarter Results.


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Cognyte Software Ltd. (NASDAQ: CGNT) (the “Company,” “Cognyte,” “we,” “us” and “our”), a global leader in investigative analytics software, today announced results for the three and six months ended July 31, 2022 (“Q2 FYE23” and “H1 FYE23”).

“Security threats are pervasive, and customers need innovative security solutions to address evolving threats. However, the global economic slowdown is affecting our near-term performance. In the second quarter, our revenue was disappointing, but we are encouraged with bookings coming in higher than revenue and contributing to a substantial increase in backlog,” said Elad Sharon, Cognyte’s Chief Executive Officer.

Cognyte Software Ltd. stock has also loss -12.00% of its value over the past 7 days. However, CGNT stock has declined by -15.38% in the 3 months of the year. Over the past six months meanwhile, it has lost -50.07% and lost -76.13% year-on date.

The market cap for CGNT stock reached $265.50 million, with 67.68 million shares outstanding and 65.90 million shares in the current float. Compared to the average trading volume of 590.00K shares, CGNT reached a trading volume of 3491860 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Cognyte Software Ltd. [CGNT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CGNT shares is $6.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CGNT stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for Cognyte Software Ltd. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 29, 2022. While these analysts kept the previous recommendation, Evercore ISI raised their target price from $12 to $5. The new note on the price target was released on June 29, 2022, representing the official price target for Cognyte Software Ltd. stock.

The Average True Range (ATR) for Cognyte Software Ltd. is set at 0.28, with the Price to Sales ratio for CGNT stock in the period of the last 12 months amounting to 0.65. The Price to Book ratio for the last quarter was 1.06, with the Price to Cash per share for the same quarter was set at 0.71.

CGNT stock trade performance evaluation

Cognyte Software Ltd. [CGNT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.00. With this latest performance, CGNT shares dropped by -27.24% in over the last four-week period, additionally sinking by -50.07% over the last 6 months – not to mention a drop of -82.05% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CGNT stock in for the last two-week period is set at 27.30, with the RSI for the last a single of trading hit 21.88, and the three-weeks RSI is set at 31.67 for Cognyte Software Ltd. [CGNT]. The present Moving Average for the last 50 days of trading for this stock 4.84, while it was recorded at 3.90 for the last single week of trading, and 7.96 for the last 200 days.

Cognyte Software Ltd. [CGNT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Cognyte Software Ltd. [CGNT] shares currently have an operating margin of +6.68 and a Gross Margin at +69.05. Cognyte Software Ltd.’s Net Margin is presently recorded at -3.14.

Return on Equity for this stock declined to -5.49, with Return on Assets sitting at -2.30.

Cognyte Software Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.30.

Cognyte Software Ltd. [CGNT]: Insider Ownership positions

There are presently around $227 million, or 92.70% of CGNT stock, in the hands of institutional investors. The top three institutional holders of CGNT stocks are: GLOBAL ALPHA CAPITAL MANAGEMENT LTD. with ownership of 6,134,766, which is approximately 56.421% of the company’s market cap and around 1.78% of the total institutional ownership; SENVEST MANAGEMENT, LLC, holding 4,338,884 shares of the stock with an approximate value of $16.23 million in CGNT stocks shares; and LEGAL & GENERAL GROUP PLC, currently with $15.83 million in CGNT stock with ownership of nearly 1.148% of the company’s market capitalization.

Positions in Cognyte Software Ltd. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 74 institutional holders increased their position in Cognyte Software Ltd. [NASDAQ:CGNT] by around 12,720,227 shares. Additionally, 77 investors decreased positions by around 12,497,297 shares, while 30 investors held positions by with 35,424,069 shares. The mentioned changes placed institutional holdings at 60,641,593 shares, according to the latest SEC report filing. CGNT stock had 22 new institutional investments in for a total of 4,158,676 shares, while 32 institutional investors sold positions of 6,738,387 shares during the same period.

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