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Cognex (CGNX) Looks Good: Stock Adds 6% in Session

Zacks

Cognex Corporation CGNX was a big mover last session, as the company saw its shares rise 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $54.57 –$63.04 in the past one-month time frame, witnessed a sharp increase yesterday.

The company has seen three positive estimate revisions in the past few months, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few months, suggesting that more solid trading could be ahead for Cognex. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.

Cognex currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.

Cognex Corporation Price

A better-ranked stock in the Computer and Technology sector is Extreme Networks, Inc. EXTR, which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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