Needham analyst Matthew Calitri has maintained their neutral stance on CGNT stock, giving a Hold rating yesterday.
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Matthew Calitri has given his Hold rating due to a combination of factors, including Cognyte Software’s recent performance and future outlook. The company exceeded expectations for the quarter and raised its revenue and adjusted EBITDA forecasts for FY26, which indicates strong execution and leadership in its AI-driven Investigative Analytics segment.
Despite these positive developments, Calitri remains cautious, as the growth implications of Cognyte’s Perpetual business model are still being evaluated. The company’s significant contract signings have increased its Remaining Performance Obligations, but the revenue recognition for these deals depends on specific terms and timelines, adding an element of uncertainty. Therefore, while the company shows promise, the Hold rating reflects a balanced view of its potential risks and rewards.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $9.50 price target.