Earnings Preview: Cognex
Portfolio Pulse from Benzinga Insights
Cognex (NASDAQ:CGNX) is scheduled to release its quarterly earnings report on February 15, 2024, with an estimated EPS of $0.10. Historical data shows mixed reactions to past earnings, with the stock price often dropping post-announcement despite beating EPS estimates. Shares are currently trading at $35.32, down 34.95% over the last year, indicating a bearish sentiment among long-term shareholders.
February 14, 2024 | 6:01 pm
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Cognex is expected to report an EPS of $0.10 for the upcoming quarter. Historical performance shows a tendency for the stock price to drop following earnings announcements, even when EPS estimates are beaten. The stock is currently down 34.95% over the last year, indicating bearish sentiment.
Given the historical trend of the stock price dropping post-earnings announcement and the current bearish sentiment indicated by a 34.95% decline over the past year, it's likely that CGNX may experience a short-term price decrease following the earnings report. The anticipation of the earnings report, coupled with the historical performance, suggests a negative short-term impact on the stock price.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100