For Cognex Corporation [CGNX], Analyst sees a rise to $41. What next?

Cognex Corporation [NASDAQ: CGNX] gained 1.14% or 0.6 points to close at $53.20 with a heavy trading volume of 547510 shares. The company report on January 12, 2023 that Cognex Announces Fourth Quarter Earnings Release Date and Conference Call.

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Cognex Corporation (NASDAQ: CGNX) will release earnings for the fourth quarter of 2022 on Thursday, February 16, 2023, after the market closes, and will host a conference call that same day at 5:00 p.m. Eastern Standard Time (EST). The earnings release and conference call are scheduled to coincide with the company’s expected filing of its Form 10-K for the year ended December 31, 2022.

The telephone number for the live call is (877) 704-4573 (or (201) 389-0911 if outside the United States). A replay will begin at 8:00 p.m. EST on Thursday, February 16, 2023, and will run continuously until 11:59 p.m. EST on Sunday, February 19, 2023. The telephone number for the replay is (877) 660-6853 (or (201) 612-7415 if outside the United States) and the access code is 1373 4893.

It opened the trading session at $52.25, the shares rose to $53.22 and dropped to $52.16, the range by which the price of stock traded the whole day. The daily chart for CGNX points out that the company has recorded 17.70% gains over the past six months. However, it is still -32.31% lower than its most recent low trading price.

If we look at the average trading volume of 834.93K shares, CGNX reached to a volume of 547510 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 $50.94 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 2.70. 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.

Credit Suisse have made an estimate for Cognex Corporation shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on December 13, 2022. While these analysts kept the previous recommendation, Cowen dropped their target price from $55 to $50. The new note on the price target was released on November 22, 2022, representing the official price target for Cognex Corporation stock. Previously, the target price had yet another raise to $40, while JP Morgan analysts kept a Underweight rating on CGNX stock.

The Average True Range (ATR) for Cognex Corporation is set at 1.56, with the Price to Sales ratio for CGNX stock in the period of the last 12 months amounting to 9.00. The Price to Book ratio for the last quarter was 6.63, with the Price to Cash per share for the same quarter was set at 2.77. Price to Free Cash Flow for CGNX in the course of the last twelve months was 54.57 with Quick ratio for the last quarter at 4.20.

Trading performance analysis for CGNX stock

Cognex Corporation [CGNX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.68. With this latest performance, CGNX shares gained by 3.70% in over the last four-week period, additionally plugging by 17.70% over the last 6 months – not to mention a drop of -27.83% 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 65.47, with the RSI for the last a single of trading hit 72.25, and the three-weeks RSI is set at 61.60 for Cognex Corporation [CGNX]. The present Moving Average for the last 50 days of trading for this stock 48.79, while it was recorded at 52.44 for the last single week of trading, and 49.69 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Cognex Corporation [CGNX] shares currently have an operating margin of +30.38 and a Gross Margin at +73.26. Cognex Corporation’s Net Margin is presently recorded at +26.99.

Return on Equity for this stock inclined to 20.79, with Return on Assets sitting at 14.71.

Cognex Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.20 and a Current Ratio set at 4.90.

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 $8,447 million, or 93.90% of CGNX stock, in the hands of institutional investors. The top three institutional holders of CGNX stocks are: BLACKROCK INC. with ownership of 16,497,348, which is approximately -6.6% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 15,895,177 shares of the stock with an approximate value of $845.62 million in CGNX stocks shares; and BANK OF NEW YORK MELLON CORP, currently with $605.92 million in CGNX stock with ownership of nearly 7.823% of the company’s market capitalization.

Positions in Cognex Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 222 institutional holders increased their position in Cognex Corporation [NASDAQ:CGNX] by around 18,811,323 shares. Additionally, 221 investors decreased positions by around 17,226,067 shares, while 90 investors held positions by with 122,735,645 shares. The mentioned changes placed institutional holdings at 158,773,035 shares, according to the latest SEC report filing. CGNX stock had 54 new institutional investments in for a total of 7,029,683 shares, while 58 institutional investors sold positions of 2,532,263 shares during the same period.

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