Market Analysts see Cognex Corporation [CGNX] gaining to $65. Time to buy?

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Cognex Corporation [NASDAQ: CGNX] loss -6.56% on the last trading session, reaching $46.46 price per share at the time. The company report on August 2, 2022 that Cognex Declares Quarterly Cash Dividend.


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Cognex Corporation (NASDAQ: CGNX) today announced that the company’s Board of Directors declared a quarterly cash dividend of $0.065 per share, payable on September 2, 2022 to all shareholders of record at the close of business on August 19, 2022.

Cognex Corporation represents 174.15 million in outstanding shares, while the company has a total market value of $7.77 billion with the latest information. CGNX stock price has been found in the range of $45.01 to $49.39.

If compared to the average trading volume of 1.26M shares, CGNX reached a trading volume of 4351622 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Cognex Corporation [CGNX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CGNX shares is $63.47 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CGNX stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Bernstein have made an estimate for Cognex Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 03, 2022. While these analysts kept the previous recommendation, Stephens dropped their target price from $80 to $45. The new note on the price target was released on August 03, 2022, representing the official price target for Cognex Corporation stock. Previously, the target price had yet another drop from $80 to $68, while JP Morgan kept a Neutral rating on CGNX stock. On January 25, 2022, analysts decreased their price target for CGNX shares from 81 to 75.

The Average True Range (ATR) for Cognex Corporation is set at 1.71, with the Price to Sales ratio for CGNX stock in the period of the last 12 months amounting to 7.19. The Price to Book ratio for the last quarter was 5.96, with the Price to Cash per share for the same quarter was set at 1.88. Price to Free Cash Flow for CGNX in the course of the last twelve months was 38.24 with Quick ratio for the last quarter at 2.70.

Trading performance analysis for CGNX stock

Cognex Corporation [CGNX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.38. With this latest performance, CGNX shares gained by 5.40% in over the last four-week period, additionally sinking by -30.05% over the last 6 months – not to mention a drop of -48.00% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CGNX stock in for the last two-week period is set at 46.26, with the RSI for the last a single of trading hit 41.87, and the three-weeks RSI is set at 46.45 for Cognex Corporation [CGNX]. The present Moving Average for the last 50 days of trading for this stock 46.10, while it was recorded at 49.66 for the last single week of trading, and 65.34 for the last 200 days.

Cognex Corporation [CGNX]: A deeper dive into fundamental analysis

Cognex Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.70 and a Current Ratio set at 3.40.

Cognex Corporation [CGNX]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CGNX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Cognex Corporation go to 15.00%.

An analysis of insider ownership at Cognex Corporation [CGNX]

There are presently around $7,352 million, or 95.20% of CGNX stock, in the hands of institutional investors. The top three institutional holders of CGNX stocks are: BLACKROCK INC. with ownership of 19,443,442, which is approximately 1.192% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 15,604,880 shares of the stock with an approximate value of $725.0 million in CGNX stocks shares; and BANK OF NEW YORK MELLON CORP, currently with $489.69 million in CGNX stock with ownership of nearly -1.431% of the company’s market capitalization.

243 institutional holders increased their position in Cognex Corporation [NASDAQ:CGNX] by around 10,892,435 shares. Additionally, 245 investors decreased positions by around 10,389,443 shares, while 100 investors held positions by with 136,958,665 shares. The mentioned changes placed institutional holdings at 158,240,543 shares, according to the latest SEC report filing. CGNX stock had 61 new institutional investments in for a total of 2,606,889 shares, while 85 institutional investors sold positions of 1,677,243 shares during the same period.

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