Cognex Tops Expectations on Revenue, EPS
(NASDAQ:CGNX), a leader in machine vision technology, announced its fourth-quarter earnings on Feb. 12. The company delivered robust results, with notable revenue growth driven by its logistics and semiconductor segments. Revenue grew by 17% year over year to $230 million, surpassing both analysts' expectations of $221 million and management's guidance. Adjusted EPS rose 84% to $0.20, outperforming the $0.15 estimate. However, challenges remained for its automotive segment.
Source: Analysts' estimates provided by FactSet.
Cognex specializes in machine vision products, catering primarily to the automotive, logistics, and consumer electronics industries. These segments accounted for 65% of the company's revenue in 2023. Recent launches like VisionPro Deep Learning 4.0 and its AI-powered DataMan series reflect its commitment to innovation. Strategic acquisitions like Moritex have augmented its market capabilities, supporting the company's continued growth in core and emerging markets.
Source Fool.com
Cognex Corp. Stock
Currently there is a rather positive sentiment for Cognex Corp. with 15 Buy predictions and 5 Sell predictions.
As a result the target price of 36 € shows a slightly positive potential of 17.38% compared to the current price of 30.67 € for Cognex Corp..
