Cognex (NASDAQ:CGNX) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Cognex from “hold” to “buy,” adding to a generally positive analyst outlook. Cognex has a consensus “Moderate Buy” rating and an average price target of $75.64.
• Cognex reported quarterly EPS of $0.45, exceeding estimates of $0.42, while revenue rose 16.9% year over year to $291.26 million, slightly below expectations.
• Institutional ownership remains high at 88.12%, with major investors including BlackRock and the California State Teachers’ Retirement System making significant purchases or additions to their positions.

Cognex (NASDAQ:CGNX - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts have also recently commented on CGNX. Cantor Fitzgerald upped their price target on Cognex from $76.00 to $84.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. JPMorgan Chase & Co. raised Cognex from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $65.00 to $75.00 in a report on Tuesday, May 26th. Barclays restated an "overweight" rating and issued a $80.00 price objective (up from $75.00) on shares of Cognex in a research note on Monday, August 10th. HSBC cut shares of Cognex from a "buy" rating to a "hold" rating and set a $65.00 price target on the stock. in a research note on Monday, August 10th. Finally, UBS Group set a $75.00 target price on Cognex in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Cognex presently has an average rating of "Moderate Buy" and an average target price of $75.64.

Cognex Price Performance

Shares of CGNX stock opened at $62.25 on Friday. The firm has a 50-day moving average of $63.94 and a 200-day moving average of $59.85. Cognex has a one year low of $34.60 and a one year high of $72.88. The company has a market cap of $10.47 billion, a P/E ratio of 60.44 and a beta of 1.49.

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

Institutional Investors Weigh In On Cognex

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Cognex during the 2nd quarter valued at about $1,158,123,000. California State Teachers Retirement System boosted its position in Cognex by 7,134.0% during the 2nd quarter. California State Teachers Retirement System now owns 14,032,461 shares of the scientific and technical instruments company's stock valued at $1,016,231,000 after acquiring an additional 13,838,483 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Cognex by 173,138.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 10,477,448 shares of the scientific and technical instruments company's stock valued at $376,979,000 after acquiring an additional 10,471,400 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of Cognex during the 2nd quarter worth approximately $161,425,000. Finally, Norges Bank purchased a new position in shares of Cognex during the 4th quarter worth approximately $73,103,000. Hedge funds and other institutional investors own 88.12% of the company's stock.

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.

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