Cognex (NASDAQ:CGNX) Stock Rating Upgraded by Zacks Research

Cognex (NASDAQ:CGNX) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other brokerages also recently commented on CGNX. Citigroup reiterated a “neutral” rating and issued a $68.00 price objective (up from $60.00) on shares of Cognex in a research report on Friday, May 8th. JPMorgan Chase & Co. raised shares of Cognex from a “neutral” rating to an “overweight” rating and upped their target price for the company from $65.00 to $75.00 in a research note on Tuesday, May 26th. The Goldman Sachs Group reissued a “buy” rating and issued a $80.00 target price (up from $70.00) on shares of Cognex in a research note on Monday, May 11th. Sanford C. Bernstein reissued an “outperform” rating and issued a $75.00 target price on shares of Cognex in a research note on Thursday, May 7th. Finally, Needham & Company LLC upped their target price on shares of Cognex from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.43.

Cognex Stock Performance

NASDAQ:CGNX opened at $64.77 on Tuesday. The firm’s 50-day moving average is $60.66 and its 200-day moving average is $50.02. Cognex has a 52-week low of $29.22 and a 52-week high of $71.90. The company has a market cap of $10.78 billion, a price-to-earnings ratio of 77.11 and a beta of 1.52.

Cognex (NASDAQ:CGNX) last announced its quarterly earnings data on Wednesday, May 6th. The scientific and technical instruments company reported $0.34 EPS for the quarter, topping 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 company had revenue of $268.44 million during the quarter, compared to the consensus estimate of $245.98 million. During the same quarter last year, the company earned $0.14 EPS. The company’s quarterly revenue was up 24.3% on a year-over-year basis. Cognex has set its Q2 2026 guidance at 0.400-0.440 EPS. Equities analysts predict that Cognex will post 1.41 EPS for the current year.

Insiders Place Their Bets

In other Cognex news, VP Darren Marc Long sold 20,252 shares of the company’s 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 sale, the vice president directly owned 3,990 shares of the company’s stock, valued at approximately $264,696.60. This represents a 83.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Laura Ann Macdonald sold 41,600 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $65.56, for a total transaction of $2,727,296.00. Following the sale, the vice president directly owned 5,258 shares in the company, valued at $344,714.48. This represents a 88.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 224,847 shares of company stock valued at $14,975,098. 1.70% of the stock is currently owned by insiders.

Institutional Trading of Cognex

Large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its stake in Cognex by 402.2% during the first quarter. Geneos Wealth Management Inc. now owns 919 shares of the scientific and technical instruments company’s stock worth $27,000 after buying an additional 736 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Cognex by 74.8% during the third quarter. CIBC Private Wealth Group LLC now owns 764 shares of the scientific and technical instruments company’s stock worth $35,000 after purchasing an additional 327 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in shares of Cognex during the first quarter worth approximately $36,000. Miller Global Investments LLC acquired a new position in shares of Cognex during the fourth quarter worth approximately $39,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Cognex during the fourth quarter worth approximately $39,000. 88.12% of the stock is owned by institutional investors.

Cognex Company Profile

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.