Cognex (NASDAQ:CGNX) PT Raised to $55.00

Cognex (NASDAQ:CGNX) had its price objective lifted by analysts at Truist Financial from $50.00 to $55.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the scientific and technical instruments company’s stock. Truist Financial’s price objective suggests a potential upside of 16.62% from the stock’s previous close.

CGNX has been the subject of a number of other research reports. HSBC upgraded shares of Cognex from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Tuesday, May 7th. UBS Group raised shares of Cognex from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $42.00 to $54.00 in a report on Tuesday, March 19th. The Goldman Sachs Group increased their target price on shares of Cognex from $36.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, May 6th. Stephens increased their price target on shares of Cognex from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Finally, Citigroup upped their price target on shares of Cognex from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $49.54.

Cognex Trading Down 0.1 %

NASDAQ CGNX opened at $47.16 on Tuesday. The company has a 50 day moving average of $45.62 and a 200-day moving average of $41.68. Cognex has a 1-year low of $34.28 and a 1-year high of $59.51. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 81.31 and a beta of 1.42.

Cognex (NASDAQ:CGNX) last posted its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $0.05 earnings per share for the quarter. Cognex had a net margin of 11.76% and a return on equity of 6.81%. The firm had revenue of $210.80 million during the quarter, compared to analysts’ expectations of $198.14 million. On average, analysts forecast that Cognex will post 0.48 earnings per share for the current year.

Hedge Funds Weigh In On Cognex

Several institutional investors have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV increased its stake in Cognex by 94.4% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 286 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Cognex in the 3rd quarter worth approximately $30,000. Rise Advisors LLC lifted its position in shares of Cognex by 1,239.7% during the 1st quarter. Rise Advisors LLC now owns 777 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 719 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Cognex by 303.1% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 770 shares of the scientific and technical instruments company’s stock valued at $33,000 after purchasing an additional 579 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Cognex by 276.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company’s stock valued at $51,000 after buying an additional 798 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company’s stock.

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.