Cognex Expects Q4 Revenue Of $175M - $195M Vs. $203.27M Estimate
Portfolio Pulse from Benzinga Newsdesk
Cognex Corporation (CGNX) expects Q4 2023 revenue to be between $175 million and $195 million, including $5 million to $7 million from Moritex Corporation. This is lower than the $203.27 million estimate. The company also expects gross margin to be approximately 70% and operating expenses to increase by low single digits. Cognex also anticipates one-time charges of approximately $15 million related to the Moritex acquisition.
October 31, 2023 | 10:10 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Cognex's lower than expected Q4 2023 revenue forecast and increased operating expenses may negatively impact its stock price in the short term. The one-time charges related to the Moritex acquisition could also add to the downward pressure.
Lower than expected revenue forecasts and increased operating expenses are generally seen as negative by the market and can lead to a decrease in stock price. The one-time charges related to the Moritex acquisition could also be seen as a negative factor, adding to the downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100