Cognex Corp. Price Target Increased to $37.00 by Analysts at Needham & Company (CGNX)
Equities researchers at Needham & Company hoisted their price target on shares of Cognex Corp. (NASDAQ:CGNX) from $34.00 to $37.00 in a research report issued on Tuesday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Needham & Company’s target price points to a potential upside of 20.34% from the stock’s previous close.
In other Cognex Corp. news, Chairman Robert J. Shillman sold 49,000 shares of Cognex Corp. stock on the open market in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $32.83, for a total value of $1,608,670.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of other analysts have also recently weighed in on CGNX. Analysts at Robert W. Baird downgraded shares of Cognex Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, September 12th. They now have a $62.00 price target on the stock, up previously from $55.00. Separately, analysts at Citigroup Inc. downgraded shares of Cognex Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, September 12th. Finally, analysts at Piper Jaffray Cos. upgraded shares of Cognex Corp. from an “underweight” rating to a “neutral” rating in a research note to investors on Wednesday, September 11th. They now have a $58.00 price target on the stock, up previously from $34.00. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $52.33.
Shares of Cognex Corp. (NASDAQ:CGNX) traded down 1.62% on Tuesday, hitting $30.745. 975,107 shares of the company’s stock traded hands. Cognex Corp. has a one year low of $16.145 and a one year high of $35.00. The stock has a 50-day moving average of $31.1 and a 200-day moving average of $26.06. The company has a market cap of $2.675 billion and a P/E ratio of 41.39.
Cognex Corp. (NASDAQ:CGNX) last released its earnings data on Monday, October 28th. The company reported $0.25 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.26 by $0.01. The company had revenue of $90.00 million for the quarter, compared to the consensus estimate of $90.00 million. During the same quarter last year, the company posted $0.41 earnings per share. Cognex Corp.’s revenue was up 13.4% compared to the same quarter last year. Analysts expect that Cognex Corp. will post $0.82 EPS for the current fiscal year.
Cognex Corporation (NASDAQ:CGNX) is a provider of machine vision products, which capture and analyze visual information in order to automate tasks, in manufacturing processes, where vision is required.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.