Cognex (NASDAQ:CGNX) Price Target Increased to $55.00 by Analysts at Truist Financial

Cognex (NASDAQ:CGNX) had its target price lifted by equities research analysts at Truist Financial from $50.00 to $55.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the scientific and technical instruments company’s stock. Truist Financial’s price target indicates a potential upside of 18.53% from the company’s previous close.

Several other research firms also recently commented on CGNX. HSBC raised shares of Cognex from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Tuesday, May 7th. Needham & Company LLC raised their price target on shares of Cognex from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Sanford C. Bernstein raised their price target on shares of Cognex from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Robert W. Baird raised their price target on shares of Cognex from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Finally, UBS Group raised shares of Cognex from a “neutral” rating to a “buy” rating and raised their target price for the company from $42.00 to $54.00 in a research report on Tuesday, March 19th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $49.54.

Cognex Trading Down 0.8 %

Cognex stock opened at $46.40 on Tuesday. The firm has a 50-day moving average price of $45.32 and a 200-day moving average price of $41.61. The firm has a market capitalization of $7.97 billion, a PE ratio of 80.00 and a beta of 1.42. Cognex has a 12-month low of $34.28 and a 12-month high of $59.51.

Cognex (NASDAQ:CGNX) last posted its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $0.05 EPS for the quarter. The company had revenue of $210.80 million for the quarter, compared to the consensus estimate of $198.14 million. Cognex had a net margin of 11.76% and a return on equity of 6.81%. As a group, sell-side analysts predict that Cognex will post 0.48 earnings per share for the current fiscal year.

Institutional Trading of Cognex

A number of institutional investors have recently bought and sold shares of the stock. Contour Asset Management LLC acquired a new stake in Cognex during the 4th quarter valued at approximately $11,454,000. Brown Capital Management LLC lifted its stake in Cognex by 5.1% during the 4th quarter. Brown Capital Management LLC now owns 5,419,313 shares of the scientific and technical instruments company’s stock valued at $226,202,000 after acquiring an additional 262,003 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Cognex during the 4th quarter valued at approximately $12,417,000. BNP Paribas Financial Markets lifted its stake in Cognex by 237.0% during the 4th quarter. BNP Paribas Financial Markets now owns 53,049 shares of the scientific and technical instruments company’s stock valued at $2,214,000 after acquiring an additional 37,306 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Cognex by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,295,729 shares of the scientific and technical instruments company’s stock valued at $54,084,000 after acquiring an additional 61,890 shares during the period. 88.12% of the stock is currently owned by institutional investors and hedge funds.

About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.