Cognex (CGNX) to Release Quarterly Earnings on Wednesday

Cognex (NASDAQ:CGNX) is expected to be announcing its earnings results after the market closes on Wednesday, February 12th. Analysts expect the company to announce earnings of $0.15 per share and revenue of $220.68 million for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Cognex Stock Performance

NASDAQ CGNX opened at $39.46 on Tuesday. The firm has a market capitalization of $6.77 billion, a P/E ratio of 75.89 and a beta of 1.40. Cognex has a fifty-two week low of $34.98 and a fifty-two week high of $53.13. The stock has a 50-day simple moving average of $37.96 and a two-hundred day simple moving average of $39.35.

Insiders Place Their Bets

In related news, Director Anthony Sun sold 26,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $40.03, for a total value of $1,040,780.00. Following the completion of the transaction, the director now owns 26,608 shares in the company, valued at $1,065,118.24. This represents a 49.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Joerg Kuechen sold 2,934 shares of Cognex stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $37.75, for a total value of $110,758.50. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Cognex to a “strong-buy” rating in a research report on Friday, December 20th. Stephens reissued an “overweight” rating and set a $55.00 price target on shares of Cognex in a research report on Thursday, January 2nd. Truist Financial raised their target price on Cognex from $42.00 to $43.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. Needham & Company LLC decreased their price objective on shares of Cognex from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Citigroup dropped their target price on Cognex from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cognex currently has a consensus rating of “Moderate Buy” and an average price target of $47.92.

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.