Cognex (CGNX) Projected to Post Earnings on Wednesday

Cognex (NASDAQ:CGNX) will likely be posting its quarterly earnings results after the market closes on Wednesday, February 12th. Analysts expect Cognex to post earnings of $0.15 per share and revenue of $220.68 million for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Cognex Stock Performance

Shares of NASDAQ:CGNX opened at $38.40 on Wednesday. The company’s 50-day moving average is $38.05 and its 200 day moving average is $39.60. The company has a market capitalization of $6.59 billion, a P/E ratio of 73.85 and a beta of 1.40. Cognex has a fifty-two week low of $34.79 and a fifty-two week high of $53.13.

Insider Buying and Selling at Cognex

In other news, Director Anthony Sun sold 26,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $40.03, for a total value of $1,040,780.00. Following the transaction, the director now owns 26,608 shares in the company, valued at approximately $1,065,118.24. This trade represents a 49.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Joerg Kuechen sold 2,934 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $37.75, for a total transaction of $110,758.50. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Needham & Company LLC cut their price target on shares of Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Cantor Fitzgerald raised shares of Cognex to a “strong-buy” rating in a report on Friday, December 20th. Citigroup dropped their price objective on shares of Cognex from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, January 13th. Stephens reaffirmed an “overweight” rating and set a $55.00 price objective on shares of Cognex in a report on Thursday, January 2nd. Finally, Truist Financial upped their price objective on shares of Cognex from $42.00 to $43.00 and gave the company a “hold” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

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.