DA Davidson Forecasts Strong Price Appreciation for Cognex (NASDAQ:CGNX) Stock

Key Points

• DA Davidson raised its price target for Cognex (NASDAQ:CGNX) from $32.00 to $35.00, maintaining a "neutral" rating, indicating a potential downside of 14.86% from the stock's previous close.
• Cognex recently reported a quarterly earnings per share of $0.25, beating analysts' expectations of $0.23, with revenue for the quarter up 4.2% year-over-year.
• The stock has seen significant interest from institutional investors, with 88.12% of the shares currently owned by them, reflecting strong confidence in the company.

Cognex (NASDAQ:CGNX - Get Free Report) had its price target boosted by analysts at DA Davidson from $32.00 to $35.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the scientific and technical instruments company's stock. DA Davidson's target price would suggest a potential downside of 15.00% from the company's previous close. DA Davidson also issued estimates for Cognex's Q3 2025 earnings at $0.21 EPS, FY2025 earnings at $0.65 EPS and FY2026 earnings at $0.83 EPS.

CGNX has been the subject of a number of other reports. Needham & Company LLC increased their target price on shares of Cognex from $36.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. KeyCorp raised Cognex from a "sector weight" rating to an "overweight" rating and set a $50.00 price target on the stock in a research report on Friday, August 1st. Cowen raised Cognex from a "hold" rating to a "buy" rating in a report on Monday, April 28th. Citigroup reaffirmed a "neutral" rating and set a $37.00 price objective (up from $30.00) on shares of Cognex in a report on Monday, July 14th. Finally, Robert W. Baird increased their target price on shares of Cognex from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Monday, June 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.31.

Cognex Price Performance

Shares of Cognex stock traded down $0.19 during trading on Monday, reaching $41.18. 188,693 shares of the company traded hands, compared to its average volume of 2,103,745. The firm has a market capitalization of $6.91 billion, a PE ratio of 57.99 and a beta of 1.47. Cognex has a 1-year low of $22.67 and a 1-year high of $44.17. The company has a 50 day moving average price of $33.13 and a 200-day moving average price of $31.91.

Cognex (NASDAQ:CGNX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Cognex had a return on equity of 6.65% and a net margin of 13.13%. The business had revenue of $249.09 million for the quarter, compared to analysts' expectations of $246.70 million. During the same period last year, the business earned $0.23 EPS. The business's revenue was up 4.2% on a year-over-year basis. Equities research analysts expect that Cognex will post 0.61 earnings per share for the current year.

Hedge Funds Weigh In On Cognex

A number of hedge funds have recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey increased its position in Cognex by 3.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 63,990 shares of the scientific and technical instruments company's stock valued at $2,030,000 after purchasing an additional 2,186 shares during the period. PNC Financial Services Group Inc. grew its position in Cognex by 121.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 12,990 shares of the scientific and technical instruments company's stock worth $412,000 after purchasing an additional 7,126 shares during the period. M&G PLC purchased a new stake in Cognex during the 2nd quarter valued at $11,625,000. Mawer Investment Management Ltd. bought a new position in shares of Cognex during the 2nd quarter valued at $45,723,000. Finally, Allworth Financial LP grew its holdings in shares of Cognex by 62.0% in the second quarter. Allworth Financial LP now owns 1,490 shares of the scientific and technical instruments company's stock worth $47,000 after acquiring an additional 570 shares during the period. Hedge funds and other institutional investors own 88.12% of the company's stock.

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.