The stock of Cognex Corporation (NASDAQ:CGNX) last traded at $51.02, down -1.85% from the previous session.
Data from the available sources indicates that Cognex Corporation (NASDAQ:CGNX) is covered by 18 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $65.00 and a low of $45.00, we find $52.00. Given the previous closing price of $51.98, this indicates a potential upside of 0.04 percent. CGNX stock price is now -7.55% away from the 50-day moving average and 0.86% away from the 200-day moving average. The market capitalization of the company currently stands at $8.80B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
In total, 11 analysts have assigned it a hold rating, and 2 have given it a buy rating. Brokers who have rated the stock have averaged $52.86 as their price target over the next twelve months.
With the price target enhanced from $41 to $44, Credit Suisse Upgraded its rating from Underperform to Neutral for Cognex Corporation (NASDAQ: CGNX).
In other news, ALIAS PATRICK, Director sold 4,375 shares of the company’s stock on Mar 06. The stock was sold for $216,676 at an average price of $49.53. Upon completion of the transaction, the Director now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 03, Director ALIAS PATRICK sold 600 shares of the business’s stock. A total of $29,700 was realized by selling the stock at an average price of $49.50. Insiders disposed of 186,575 shares of company stock worth roughly $9.52 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CGNX stock. A new stake in Cognex Corporation shares was purchased by JENNISON ASSOCIATES LLC during the first quarter worth $26,889,000. GREAT LAKES ADVISORS, LLC invested $17,465,000 in shares of CGNX during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT L.P. acquired a new stake in Cognex Corporation valued at approximately $5,689,000. ORION PORTFOLIO SOLUTIONS, LLC acquired a new stake in CGNX for approximately $3,356,000. HRT FINANCIAL LP purchased a new stake in CGNX valued at around $1,693,000 in the second quarter.
With an opening price of $51.48 on Wednesday morning, Cognex Corporation (NASDAQ: CGNX) set off the trading day. During the past 12 months, Cognex Corporation has had a low of $40.21 and a high of $59.51. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 3.40, and a quick ratio of 2.80. According to the stock market information, the enterprise value for the company is $8.63B, which is based on a 51.17 price-to-earnings ratio, a 17.23 price-to-earnings-growth ratio, and a beta of 1.55. The fifty day moving average price for CGNX is $55.15 and a two-hundred day moving average price translates $50.62 for the stock.
The net profit margin was 18.80% and return on equity was 12.30% for CGNX. The company reported revenue of $201.12 million for the quarter, compared to $282.41 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -28.78 percent.
Moreover, the firm recently paid out its quarterly dividend on 06/02/2023. Investors who held shares on 05/19/2023 were paid a $0.07 dividend. On an annualized basis, this represents a $0.28 dividend and a 0.55% percent yield. There was an ex-dividend date of 05/18/2023 for this dividend. In terms of dividend payout ratio, CGNX is presently at 26.90%.
