Cognex (NASDAQ:CGNX) Given New $55.00 Price Target at Truist Financial

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

CGNX has been the subject of a number of other research reports. Stephens upped their price target on Cognex from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. UBS Group raised shares of Cognex from a “neutral” rating to a “buy” rating and lifted their price target for the company from $42.00 to $54.00 in a report on Tuesday, March 19th. The Goldman Sachs Group increased their price objective on shares of Cognex from $36.00 to $41.00 and gave the stock a “sell” rating in a research note on Monday, May 6th. Sanford C. Bernstein lifted their target price on shares of Cognex from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Robert W. Baird upped their target price on shares of Cognex from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cognex presently has a consensus rating of “Hold” and a consensus target price of $49.54.

Cognex Trading Down 0.1 %

Shares of CGNX stock opened at $47.16 on Tuesday. Cognex has a 12 month low of $34.28 and a 12 month high of $59.51. The stock has a market cap of $8.10 billion, a P/E ratio of 81.31 and a beta of 1.42. The company has a 50 day simple moving average of $45.62 and a two-hundred day simple moving average of $41.68.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $0.05 earnings per share (EPS) 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 the consensus estimate of $198.14 million. As a group, equities analysts forecast that Cognex will post 0.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CGNX. GAMMA Investing LLC raised its stake in Cognex by 276.1% during the second quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company’s stock valued at $51,000 after purchasing an additional 798 shares in the last quarter. Swedbank AB bought a new stake in shares of Cognex in the 1st quarter worth about $58,502,000. Comerica Bank raised its position in shares of Cognex by 6.3% during the 1st quarter. Comerica Bank now owns 104,389 shares of the scientific and technical instruments company’s stock valued at $4,428,000 after buying an additional 6,218 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Cognex by 88.7% in the 1st quarter. Tidal Investments LLC now owns 9,463 shares of the scientific and technical instruments company’s stock valued at $402,000 after acquiring an additional 4,448 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Cognex by 986.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,619,007 shares of the scientific and technical instruments company’s stock worth $68,679,000 after acquiring an additional 1,469,961 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors.

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.