Cognex Corporation (CGNX) stock is soaring 14.19% in Thursday's trading session, building on the momentum from a strong pre-market rally. The surge comes on the heels of the company's impressive second-quarter earnings report, which exceeded analyst expectations across key financial metrics.

For the quarter ended June 30, Cognex reported adjusted earnings of $0.25 per share, surpassing the consensus estimate of $0.24 and improving from $0.23 in the same quarter last year. The machine vision systems manufacturer also posted robust revenue growth, with sales rising 4.1% year-over-year to $249.09 million, outpacing analyst projections of $246.14 million. The company's net income for the period stood at a solid $40.51 million.

The better-than-expected results have reinvigorated investor confidence in Cognex, which had seen its stock decline 4.5% year-to-date prior to this report. Wall Street maintains a bullish outlook on the company, with the average analyst recommendation being "buy". The median 12-month price target for Cognex stands at $37.00, suggesting further upside potential from its last closing price of $33.76. As the industrial machinery sector continues to evolve, Cognex's strong performance indicates its ability to capitalize on growing demand for automation and machine vision technologies, driving today's significant stock rally.