Goldman Sachs analyst Joseph Ritchie downgraded Cognex to Sell from Neutral and lowered his price target for the shares to $36 from $45. The analyst shuffled his ratings in the Americas Multi-Industry ahead of the Q2 earnings season. He sees a "rocky road ahead."
TECHNICALLY THE STOCK HAS LOST ALL MA SUPPORT
IN WELL DEFINED DOWNTREND
INDICATORS BEARISH
SELLING INCREASING AS EARNINGS APPROACH
SENTIMENT NEGATIVE
P/E REMAINS HIGH
TRADE SENSITIVE
$35 LIKELY PULLBACK LEVEL
AVERAGE ANALYSTS PRICE TARGET $47
AVERAGE ANALYSTS RECOMMENDATION HOLD
P/E RATIO 35
SHORT INTEREST 5%
COMPANY PROFILE
Cognex Corp. engages in the provision of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The company was founded by Robert J. Shillman, William Silver, and Marilyn Matz in 1981 and is headquartered in Natick, MA.
TECHNICALLY THE STOCK HAS LOST ALL MA SUPPORT
IN WELL DEFINED DOWNTREND
INDICATORS BEARISH
SELLING INCREASING AS EARNINGS APPROACH
SENTIMENT NEGATIVE
P/E REMAINS HIGH
TRADE SENSITIVE
$35 LIKELY PULLBACK LEVEL
AVERAGE ANALYSTS PRICE TARGET $47
AVERAGE ANALYSTS RECOMMENDATION HOLD
P/E RATIO 35
SHORT INTEREST 5%
COMPANY PROFILE
Cognex Corp. engages in the provision of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The company was founded by Robert J. Shillman, William Silver, and Marilyn Matz in 1981 and is headquartered in Natick, MA.