These Analysts Cut Their Forecasts On Cognex Following Q2 Results
Portfolio Pulse from Avi Kapoor
Cognex Corporation (NASDAQ:CGNX) reported mixed Q2 results, beating earnings estimates but missing on sales. Despite strong performance in Logistics and Semiconductor markets, overall factory automation revenue was weak. Analysts from Needham and Truist Securities lowered their price targets for Cognex. The stock fell 21.2% to $39.08.
August 02, 2024 | 1:24 pm
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Cognex Corporation reported mixed Q2 results, with earnings beating estimates but sales missing. Analysts from Needham and Truist Securities lowered their price targets. The stock fell 21.2% to $39.08.
Cognex's mixed Q2 results, with earnings beating but sales missing estimates, led to a significant drop in stock price. Analysts lowering their price targets further contributed to the negative sentiment.
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