Cognex (NASDAQ:CGNX) Given New $65.00 Price Target at JPMorgan Chase & Co.

Cognex (NASDAQ:CGNX) had its target price decreased by analysts at JPMorgan Chase & Co. from $75.00 to $65.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the scientific and technical instruments company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 36.04% from the stock’s current price.

Several other research firms also recently weighed in on CGNX. HSBC downgraded Cognex from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a research report on Monday, August 10th. Zacks Research downgraded Cognex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Citigroup reaffirmed a “neutral” rating and set a $74.00 price objective (up from $72.00) on shares of Cognex in a research note on Friday, August 7th. DA Davidson reiterated a “neutral” rating and set a $65.00 price objective on shares of Cognex in a research report on Wednesday, September 23rd. Finally, Cantor Fitzgerald lifted their price objective on Cognex from $76.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cognex presently has a consensus rating of “Moderate Buy” and an average price target of $72.21.

Cognex Stock Performance

Cognex stock opened at $47.78 on Friday. Cognex has a fifty-two week low of $34.60 and a fifty-two week high of $72.88. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 33.41 and a beta of 1.49. The stock’s fifty day moving average is $59.06 and its two-hundred day moving average is $58.04.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings data on Wednesday, November 4th. The scientific and technical instruments company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Cognex had a net margin of 21.50% and a return on equity of 15.75%. The business had revenue of $313.39 million during the quarter, compared to analysts’ expectations of $313.62 million. During the same period last year, the company posted $0.33 EPS. The company’s revenue was up 13.0% on a year-over-year basis. As a group, sell-side analysts forecast that Cognex will post 1.70 EPS for the current fiscal year.

Institutional Trading of Cognex

Several hedge funds and other institutional investors have recently bought and sold shares of CGNX. BlackRock Inc. purchased a new position in shares of Cognex during the 2nd quarter worth $1,158,123,000. Pictet Asset Management Holding SA boosted its holdings in shares of Cognex by 2.7% during the third quarter. Pictet Asset Management Holding SA now owns 5,985,986 shares of the scientific and technical instruments company’s stock worth $363,002,000 after purchasing an additional 156,108 shares during the last quarter. Jupiter Topco LLC purchased a new stake in shares of Cognex in the second quarter valued at $161,425,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Cognex by 0.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,227,288 shares of the scientific and technical instruments company’s stock valued at $135,085,000 after purchasing an additional 11,927 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Cognex by 81.0% in the first quarter. Janus Henderson Group PLC now owns 2,660,411 shares of the scientific and technical instruments company’s stock valued at $130,320,000 after purchasing an additional 1,190,434 shares during the period. 88.12% of the stock is owned by hedge funds and other institutional investors.

Cognex Company Profile