Stifel Starts Cogentix Medical (CGNT) at Buy

February 17, 2021 4:14 PM EST
Get Alerts CGNT Hot Sheet
Price: $24.65 -3.64%

Rating Summary:
    5 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 19 | Down: 18 | New: 47
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Stifel analyst Brad Reback initiates coverage on Cogentix Medical (NASDAQ: CGNT) with a Buy rating and a price target of $42.00.

The analyst comments "For over two decades, Cognyte’s security analytics software has provided government and enterprise customers with Actionable Intelligence derived from the application of advanced analytics across disparate data sources to accelerate myriad security investigations (i.e., criminal, analysis of potentially malicious activity across enterprise and government networks, etc.). We believe the degree to which Cognyte's Advanced Intelligence enhances the efficacy of such investigative efforts makes the company's Analytics Platform quite sticky in nature (~90% of revenue is sourced from repeat customers). This helps mitigate the potential for material churn and, in our view, should translate into broader utilization of the Analytics Platform over time. Looking forward, we expect Cognyte to post low/mid-teens revenue growth and continued margin expansion as the company captures incremental wallet share across its installed base via expanded utilization (product expansion and new use cases)."

For an analyst ratings summary and ratings history on Cogentix Medical click here. For more ratings news on Cogentix Medical click here.

Shares of Cogentix Medical closed at $30.20 yesterday.

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