The Goldman Sachs Group Issues Positive Forecast for Cognex (NASDAQ:CGNX) Stock Price

Cognex (NASDAQ:CGNX - Get Free Report) had its price target increased by equities research analysts at The Goldman Sachs Group from $29.00 to $32.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "sell" rating on the scientific and technical instruments company's stock. The Goldman Sachs Group's price target indicates a potential upside of 6.14% from the company's current price.

Several other equities analysts have also issued reports on CGNX. Truist Financial dropped their target price on shares of Cognex from $37.00 to $29.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. Hsbc Global Res lowered shares of Cognex from a "strong-buy" rating to a "hold" rating in a report on Friday, February 21st. Cowen upgraded shares of Cognex from a "hold" rating to a "buy" rating in a report on Monday, April 28th. HSBC lowered shares of Cognex from a "buy" rating to a "hold" rating and set a $33.00 price objective on the stock. in a report on Friday, February 21st. Finally, Citigroup dropped their price objective on shares of Cognex from $37.00 to $26.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $39.67.

Cognex Trading Down 1.5%

CGNX stock traded down $0.45 during midday trading on Thursday, hitting $30.15. The stock had a trading volume of 2,224,182 shares, compared to its average volume of 1,610,786. The firm has a market cap of $5.06 billion, a P/E ratio of 49.43 and a beta of 1.47. Cognex has a 1-year low of $22.67 and a 1-year high of $53.13. The business has a fifty day moving average price of $28.25 and a two-hundred day moving average price of $32.80.

Institutional Investors Weigh In On Cognex

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Cognex by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 18,479,828 shares of the scientific and technical instruments company's stock worth $662,687,000 after acquiring an additional 296,251 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Cognex by 32.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,082,319 shares of the scientific and technical instruments company's stock worth $181,436,000 after acquiring an additional 1,474,832 shares in the last quarter. William Blair Investment Management LLC grew its position in Cognex by 27.3% in the 4th quarter. William Blair Investment Management LLC now owns 5,840,117 shares of the scientific and technical instruments company's stock worth $209,427,000 after purchasing an additional 1,253,996 shares in the last quarter. Mackenzie Financial Corp grew its position in Cognex by 126.2% in the 1st quarter. Mackenzie Financial Corp now owns 4,609,802 shares of the scientific and technical instruments company's stock worth $137,510,000 after purchasing an additional 2,571,457 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its position in Cognex by 13.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,820,394 shares of the scientific and technical instruments company's stock worth $136,999,000 after purchasing an additional 461,724 shares in the last quarter. 88.12% of the stock is owned by institutional investors.

About Cognex

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.