Analysts Offer Insights on Technology Companies: Cognex Corp. (NASDAQ: CGNX), Yelp (NYSE: YELP) and Exfo Inc (NASDAQ: EXFO)

By Ryan Adsit

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Cognex Corp. (NASDAQ: CGNX), Yelp (NYSE: YELP) and Exfo Inc (NASDAQ: EXFO).

Cognex Corp. (NASDAQ: CGNX)

In a report released yesterday, Robert Burleson from Canaccord Genuity reiterated a Hold rating on Cognex Corp. (NASDAQ: CGNX), with a price target of $55. The company’s shares opened today at $51.57, close to its 52-week high of $55.85.

According to TipRanks.com, Burleson is a 4-star analyst with an average return of 1.7% and a 49.2% success rate. Burleson covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Integrated Device Tech, and Mitel Networks Corp.

Currently, the analyst consensus on Cognex Corp. is Moderate Buy and the average price target is $58, representing a 12.5% upside.

In a report issued on October 25, Stephens also initiated coverage with a Hold rating on the stock with a $50 price target.
Yelp (NYSE: YELP)

In a report released yesterday, Andrew Bruckner from RBC Capital reiterated a Buy rating on Yelp (NYSE: YELP), with a price target of $48. The company’s shares opened today at $32.48.

According to TipRanks.com, Bruckner is a 2-star analyst with an average return of 0.1% and a 46.4% success rate. Bruckner covers the Technology sector, focusing on stocks such as Rubicon Technology, Rubicon Project, and Trade Desk Inc.

Currently, the analyst consensus on Yelp is Moderate Buy and the average price target is $39.50, representing a 21.6% upside.

In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $42 price target.
Exfo Inc (NASDAQ: EXFO)

Canaccord Genuity analyst Robert Young reiterated a Hold rating on Exfo Inc (NASDAQ: EXFO) yesterday and set a price target of $4.25. The company’s shares opened today at $4.30, close to its 52-week high of $4.45.

Young noted:

“Date and time of first dissemination: October 31, 2016, 22:06 ET Date and time of production: October 31, 2016, 22:06 ET Target Price / Valuation Methodology: EXFO Inc. – EXFO Our target of US$4.25 is based on 8.0x NTM EV/EBITDA and 14x NTM P/E, reflecting limited business visibility. Risks to achieving Target Price / Valuation: EXFO Inc. – EXFO Investment risks include but are not limited to exchange rate risk, integration risk from acquisitions and dependence upon timely introduction of new products to maintain technology leadership. EXFO also faces competitive risks as it competes with much larger companies like JDS Uniphase, Agilent and Tektronix. In the past, EXFO has experienced customer concentration risk with sales dominated by a small number of Tier 1 carriers. Distribution of Ratings: Global Stock Ratings (as of 10/31/16) Rating Coverage Universe IB Clients # % % Buy 555 59.68% 35.32% Hold 284 30.54% 17.96% Sell 22 2.37% 18.18% Speculative Buy 69 7.42% 69.57% 930* 100.0% *Total includes stocks that are Under Review Canaccord Genuity Ratings System BUY: The stock is expected to generate risk-adjusted returns of over 10% during the next 12 months. HOLD: The stock is expected to generate risk-adjusted returns of 0-10% during the next 12 months. SELL: The stock is expected to generate negative risk-adjusted returns during the next 12 months. NOT RATED: Canaccord Genuity does not provide research coverage of the relevant issuer.”

According to TipRanks.com, Young is a 2-star analyst with an average return of -0.5% and a 61.5% success rate. Young covers the Technology sector, focusing on stocks such as Dragonwave Inc, CounterPath, and Wi-Lan Inc.

Exfo Inc has an analyst consensus of Hold.