Morgan Stanley Remains a Sell on Cognex (CGNX)

In a report released today, Joshua Pokrzywinski from Morgan Stanley maintained a Sell rating on Cognex (CGNX), with a price target of $57.00. The company’s shares closed last Wednesday at $65.13.

According to, Pokrzywinski is a 4-star analyst with an average return of 5.2% and a 56.6% success rate. Pokrzywinski covers the Industrial Goods sector, focusing on stocks such as Advanced Drainage Systems, Honeywell International, and Lennox International.

Cognex has an analyst consensus of Moderate Sell, with a price target consensus of $62.20.

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Based on Cognex’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $169 million and GAAP net loss of $1.14 million. In comparison, last year the company earned revenue of $199 million and had a net profit of $48.75 million.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CGNX in relation to earlier this year. Last month, Patrick Alias, a Director at CGNX sold 10,000 shares for a total of $698,400.

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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.

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