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Research analysts at Needham & Company lifted their target price on shares of Cognex Corp. (NASDAQ:CGNX) from $37.00 to $45.00 in a report released on Thursday, American Banking and Market News reports. Needham & Company’s target price would indicate a potential upside of 17.86% from the company’s current price.

Separately, analysts at BB&T Corp. initiated coverage on shares of Cognex Corp. in a research note to investors on Wednesday, December 18th. They set a “buy” rating and a $45.00 price target on the stock. Three 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 an average target price of $52.50.

Shares of Cognex Corp. (NASDAQ:CGNX) traded down 1.15% during mid-day trading on Thursday, hitting $37.74. 502,360 shares of the company’s stock traded hands. Cognex Corp. has a 52-week low of $18.38 and a 52-week high of $38.60. The stock’s 50-day moving average is $33.80 and its 200-day moving average is $29.67. The company has a market cap of $3.294 billion and a price-to-earnings ratio of 48.95.

Cognex Corp. (NASDAQ:CGNX) last posted its quarterly earnings results 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.

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.

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