Cognex Corp. [NASDAQ: CGNX] stock went on an upward path that rose over 6.53% on Thursday, amounting to a one-week price increase of more than 6.85%. The company report on February 15, 2024 at 6:00 AM that Cognex Reports Fourth Quarter and Full Year 2023 Results.
Cognex Corporation (NASDAQ: CGNX) today reported financial results for the fourth quarter and full year 2023. Table 1 below shows selected financial data for Q4-23 compared with Q4-22 and Q3-23, and the year ended December 31, 2023 compared with the year ended December 31, 2022.
“Our fourth quarter results reflected a challenging, but stable business environment,” said Robert J. Willett, CEO of Cognex. “Revenue across most of our end markets was down year-on-year in the quarter, and our largest customers continued a pause in significant capital expenditures.”.
Over the last 12 months, CGNX stock dropped by -30.40%. The one-year Cognex Corp. stock forecast points to a potential upside of 11.0. The average equity rating for CGNX stock is currently 2.77, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $6.63 billion, with 172.63 million shares outstanding and 171.71 million shares in the current float. Compared to the average trading volume of 1.60M shares, CGNX stock reached a trading volume of 4538227 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Cognex Corp. [CGNX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CGNX shares is $43.27 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 2.77. 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.
Exane BNP Paribas have made an estimate for Cognex Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 05, 2023.
The Average True Range (ATR) for Cognex Corp. is set at 1.34, with the Price to Sales ratio for CGNX stock in the period of the last 12 months amounting to 7.53. The Price to Book ratio for the last quarter was 4.45, with the Price to Cash per share for the same quarter was set at 2.98. Price to Free Cash Flow for CGNX in the course of the last twelve months was 45.86 with Quick ratio for the last quarter at 4.10.
CGNX Stock Performance Analysis:
Cognex Corp. [CGNX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.85. With this latest performance, CGNX shares gained by 3.47% in over the last four-week period, additionally sinking by -18.51% over the last 6 months – not to mention a drop of -30.40% 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 56.39, with the RSI for the last a single of trading hit 62.24, and the three-weeks RSI is set at 53.28 for Cognex Corp. [CGNX]. The present Moving Average for the last 50 days of trading for this stock 38.63, while it was recorded at 36.72 for the last single week of trading, and 44.80 for the last 200 days.
Insight into Cognex Corp. Fundamentals:
Cognex Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.10 and a Current Ratio set at 4.89.
CGNX Stock EPS
With the latest financial reports released by the company, Cognex Corp. posted 0.27/share EPS, while the average EPS was predicted by analysts to be reported at 0.32/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -15.60%. 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 Corp. go to 2.97%.
Cognex Corp. [CGNX] Institutonal Ownership Details
The top three institutional holders of CGNX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CGNX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CGNX stock with ownership which is approximately 5.8325%.
