Cognex (NASDAQ:CGNX) Downgraded by Zacks Research to Hold

Key Points

• Zacks Research downgraded Cognex from “strong buy” to “hold,” although the broader analyst consensus remains “Moderate Buy” with a $75.21 price target.
• Cognex shares opened at $61.21 after falling 7.7%; the stock has traded between $34.60 and $72.88 over the past year.
• The company exceeded quarterly EPS expectations, reporting $0.45 versus the $0.42 consensus, while revenue rose 16.9% year over year. Institutional investors own 88.12% of Cognex’s outstanding shares.

Cognex (NASDAQ:CGNX - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday, Zacks reports.

CGNX has been the topic of several other research reports. Citigroup reaffirmed a "neutral" rating and set a $74.00 price target (up from $72.00) on shares of Cognex in a research report on Friday, August 7th. Truist Financial set a $74.00 price objective on Cognex and gave the stock a "hold" rating in a research report on Monday. Weiss Ratings raised Cognex from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. Robert W. Baird reduced their target price on Cognex from $78.00 to $70.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 23rd. Finally, Cantor Fitzgerald upped their price target on Cognex from $76.00 to $84.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.21.

Cognex Trading Down 7.7%

Shares of CGNX opened at $61.21 on Tuesday. Cognex has a 12-month low of $34.60 and a 12-month high of $72.88. The firm has a market capitalization of $10.30 billion, a P/E ratio of 59.43 and a beta of 1.48. The firm has a 50-day moving average price of $62.26 and a 200 day moving average price of $61.20.

Cognex (NASDAQ:CGNX - Get Free Report) last issued its earnings results on Wednesday, August 5th. The scientific and technical instruments company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.03. The company had revenue of $291.26 million for the quarter, compared to the consensus estimate of $292.10 million. Cognex had a net margin of 16.05% and a return on equity of 13.50%. Cognex's quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 earnings per share. Cognex has set its FY 2026 guidance at 1.640-1.680 EPS and its Q3 2026 guidance at 0.500-0.540 EPS. Equities research analysts predict that Cognex will post 1.68 earnings per share for the current fiscal year.

Institutional Trading of Cognex

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Cognex in the 2nd quarter valued at about $1,158,123,000. Jupiter Topco LLC acquired a new position in shares of Cognex during the second quarter worth about $161,425,000. Bank of New York Mellon Corp purchased a new stake in shares of Cognex during the second quarter worth approximately $129,348,000. Front Street Capital Management Inc. acquired a new stake in Cognex in the second quarter valued at approximately $90,581,000. Finally, Bamco Inc. NY acquired a new stake in Cognex in the second quarter valued at approximately $90,605,000. Hedge funds and other institutional investors own 88.12% of the company's stock.

About Cognex

Cognex Corporation NASDAQ: CGNX develops machine vision products and technologies that help businesses automate manufacturing, logistics and other industrial processes. Its systems enable machines to inspect, identify, measure and guide products, components and materials with limited human intervention.

The company's product portfolio includes industrial vision cameras, vision sensors, image-based barcode readers, three-dimensional vision systems and software for image processing and analysis.

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