Cognex (NASDAQ:CGNX) Given “Neutral” Rating at DA Davidson

Cognex (NASDAQ:CGNX)‘s stock had its “neutral” rating reiterated by equities researchers at DA Davidson in a research report issued to clients and investors on Wednesday, September 23rd, Benzinga reports. They presently have a $65.00 price objective on the scientific and technical instruments company’s stock. DA Davidson’s price objective indicates a potential upside of 8.08% from the stock’s previous close.

A number of other brokerages have also weighed in on CGNX. Weiss Ratings raised shares of Cognex from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Citigroup reaffirmed a “neutral” rating and set a $74.00 price target (up from $72.00) on shares of Cognex in a research report on Friday, August 7th. Truist Financial boosted their price target on Cognex from $71.00 to $78.00 and gave the company a “hold” rating in a research note on Friday, August 7th. Zacks Research raised Cognex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. upgraded Cognex from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $65.00 to $75.00 in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.50.

Cognex Stock Up 0.8%

Shares of Cognex stock traded up $0.47 during midday trading on Wednesday, hitting $60.14. The company had a trading volume of 144,738 shares, compared to its average volume of 2,130,906. The company has a fifty day simple moving average of $62.01 and a 200 day simple moving average of $60.61. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of 58.40 and a beta of 1.49. Cognex has a 12-month low of $34.60 and a 12-month high of $72.88.

Cognex (NASDAQ:CGNX) last released its earnings results on Wednesday, August 5th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.03. The company had revenue of $291.26 million for the quarter, compared to the consensus estimate of $292.10 million. Cognex had a net margin of 16.05% and a return on equity of 13.50%. Cognex’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. Cognex has set its FY 2026 guidance at 1.640-1.680 EPS and its Q3 2026 guidance at 0.500-0.540 EPS. As a group, analysts expect that Cognex will post 1.68 EPS for the current year.

Institutional Trading of Cognex

Hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Cognex during the second quarter valued at approximately $26,000. Rakuten Securities Inc. purchased a new stake in Cognex in the 2nd quarter worth approximately $32,000. Transamerica Financial Advisors LLC purchased a new stake in Cognex in the 2nd quarter worth approximately $32,000. Elevation Wealth Partners LLC grew its stake in shares of Cognex by 635.4% during the 2nd quarter. Elevation Wealth Partners LLC now owns 478 shares of the scientific and technical instruments company’s stock worth $35,000 after purchasing an additional 413 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in shares of Cognex during the 2nd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 88.12% of the company’s stock.

Cognex Company Profile

Cognex Corporation (NASDAQ: CGNX) develops machine vision products and technologies that help businesses automate manufacturing, logistics and other industrial processes. Its systems enable machines to inspect, identify, measure and guide products, components and materials with limited human intervention.

The company’s product portfolio includes industrial vision cameras, vision sensors, image-based barcode readers, three-dimensional vision systems and software for image processing and analysis.