Cognex (NASDAQ:CGNX) Price Target Raised to $71.00 at Truist Financial

Cognex (NASDAQ:CGNX) had its target price lifted by equities research analysts at Truist Financial from $61.00 to $71.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the scientific and technical instruments company’s stock. Truist Financial’s price objective points to a potential downside of 0.43% from the stock’s current price.

Several other analysts have also issued reports on CGNX. JPMorgan Chase & Co. upgraded shares of Cognex from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $65.00 to $75.00 in a research note on Tuesday, May 26th. The Goldman Sachs Group reissued a “buy” rating and set a $80.00 price target (up from $70.00) on shares of Cognex in a research report on Monday, May 11th. Citigroup reiterated a “neutral” rating and issued a $68.00 price objective (up from $60.00) on shares of Cognex in a research note on Friday, May 8th. Zacks Research raised shares of Cognex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 16th. Finally, Wall Street Zen upgraded Cognex from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.14.

Cognex Stock Down 1.5%

Shares of NASDAQ:CGNX opened at $71.31 on Thursday. The business’s 50 day moving average is $63.24 and its 200 day moving average is $52.07. Cognex has a 12-month low of $31.77 and a 12-month high of $72.88. The stock has a market cap of $11.87 billion, a price-to-earnings ratio of 84.89 and a beta of 1.49.

Cognex (NASDAQ:CGNX) last released its quarterly earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. Cognex had a return on equity of 10.89% and a net margin of 13.62%.The business had revenue of $268.44 million during the quarter, compared to analyst estimates of $245.98 million. During the same period in the prior year, the firm posted $0.14 EPS. Cognex’s quarterly revenue was up 24.3% compared to the same quarter last year. Cognex has set its Q2 2026 guidance at 0.400-0.440 EPS. As a group, equities research analysts expect that Cognex will post 1.49 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Darren Marc Long sold 20,252 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $66.34, for a total transaction of $1,343,517.68. Following the completion of the transaction, the vice president owned 3,990 shares in the company, valued at approximately $264,696.60. This represents a 83.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Fennell sold 64,873 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $67.05, for a total transaction of $4,349,734.65. Following the sale, the insider owned 11,263 shares of the company’s stock, valued at $755,184.15. This trade represents a 85.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 224,847 shares of company stock valued at $14,975,098. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. State of Michigan Retirement System raised its holdings in shares of Cognex by 0.5% in the 1st quarter. State of Michigan Retirement System now owns 39,853 shares of the scientific and technical instruments company’s stock worth $1,952,000 after purchasing an additional 200 shares during the period. Personal CFO Solutions LLC grew its holdings in Cognex by 3.2% during the first quarter. Personal CFO Solutions LLC now owns 6,793 shares of the scientific and technical instruments company’s stock valued at $333,000 after purchasing an additional 212 shares during the period. World Investment Advisors increased its position in Cognex by 3.7% in the first quarter. World Investment Advisors now owns 6,073 shares of the scientific and technical instruments company’s stock worth $298,000 after buying an additional 214 shares during the last quarter. Quadrant Capital Group LLC increased its position in Cognex by 1.0% in the fourth quarter. Quadrant Capital Group LLC now owns 22,907 shares of the scientific and technical instruments company’s stock worth $824,000 after buying an additional 234 shares during the last quarter. Finally, Essential Partners LLC raised its stake in shares of Cognex by 12.5% in the first quarter. Essential Partners LLC now owns 2,153 shares of the scientific and technical instruments company’s stock valued at $105,000 after buying an additional 239 shares during the period. 88.12% of the stock is owned by institutional investors.

About Cognex

Cognex Corporation is a leading provider of machine vision systems, software, sensors and industrial barcode readers used to automate manufacturing, logistics and distribution processes. The company designs and develops vision-based products that help manufacturers and logistics operators inspect, identify and guide parts, assemblies and packaged goods in real time. Its solutions are applied in a broad range of industries, including automotive, electronics, semiconductor, pharmaceutical, food and beverage, and general manufacturing.

The company’s product portfolio includes stand-alone vision systems, vision sensors and deep learning-based software platforms that enable automated inspection, quality control and traceability.