Cognex (NASDAQ:CGNX – Get Free Report) had its target price decreased by stock analysts at DA Davidson from $65.00 to $55.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the scientific and technical instruments company’s stock. DA Davidson‘s price objective indicates a potential upside of 8.51% from the company’s current price.
A number of other equities research analysts have also weighed in on the stock. KeyCorp cut their target price on shares of Cognex from $80.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday. Weiss Ratings raised shares of Cognex from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Stephens decreased their target price on Cognex from $85.00 to $70.00 and set an “overweight” rating for the company in a research report on Friday. Zacks Research cut Cognex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Finally, JPMorgan Chase & Co. dropped their price target on Cognex from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.50.
View Our Latest Research Report on Cognex
Cognex Stock Performance
Shares of Cognex stock traded up $2.91 during midday trading on Monday, reaching $50.69. 1,105,932 shares of the company’s stock traded hands, compared to its average volume of 2,132,095. The stock has a 50 day moving average of $59.06 and a 200-day moving average of $58.04. Cognex has a 12 month low of $34.60 and a 12 month high of $72.88. The company has a market cap of $8.53 billion, a PE ratio of 35.24 and a beta of 1.49.
Cognex (NASDAQ:CGNX – Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The scientific and technical instruments company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Cognex had a net margin of 21.50% and a return on equity of 15.75%. The business had revenue of $313.39 million for the quarter, compared to the consensus estimate of $313.62 million. During the same period in the previous year, the firm earned $0.33 EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities analysts anticipate that Cognex will post 1.70 earnings per share for the current fiscal year.
Institutional Trading of Cognex
Hedge funds have recently made changes to their positions in the stock. Robinhood Asset Management LLC purchased a new position in Cognex during the second quarter valued at $16,461,000. Bank of America Corp DE boosted its holdings in Cognex by 51.9% in the first quarter. Bank of America Corp DE now owns 731,149 shares of the scientific and technical instruments company’s stock worth $35,819,000 after acquiring an additional 249,877 shares in the last quarter. Equitable Holdings Inc. purchased a new stake in shares of Cognex in the second quarter worth $918,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Cognex in the second quarter worth $29,034,000. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Cognex in the second quarter worth $4,894,000. 88.12% of the stock is owned by institutional investors.
Cognex Company Profile
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