
Cognex (CGNX) Stock Forecast & Price Target
Cognex (CGNX) Analyst Ratings
Bulls say
Cognex Corp reported a robust 18% year-over-year revenue growth, reaching $277 million, driven by strong performance particularly in the Packaging sector, which represents 21% of anticipated 2024 revenues. The company showcased significant operational efficiency, with EBITDA increasing 67% to $68.8 million, surpassing guidance and consensus estimates, aided by improved cost management and operating leverage. Additionally, Cognex generated $86 million in free cash flow during the third quarter, marking a notable increase from $56 million in the same period last year, further enhancing the firm’s financial stability and capacity for future growth.
Bears say
Cognex Corp is experiencing a negative outlook primarily due to a weakening demand in the automotive sector, which constitutes 22% of projected 2024 sales, along with mixed performance across other end markets, particularly in the semiconductor space. As fiscal conditions contribute to lower project activities and investment levels in automotive, the impact is expected to persist, indicating a sustained decline. Additionally, while the company expects to maintain EBITDA margins between 17.0%-20.0%, this stagnation at the midpoint does not compensate for the broader economic challenges that could further dampen demand in its factory automation business.
This aggregate rating is based on analysts' research of Cognex and is not a guaranteed prediction by Public.com or investment advice.
Cognex (CGNX) Analyst Forecast & Price Prediction
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