Cognex Down 9.5% Despite Beating Estimates (CGNX)

Shares of Cognex Corporation CGNX are currently down 9.5% at $31.64 per share during Friday afternoon trading. Today's trading range for shares of Cognex Corporation has been between $31.15 and $33.80 per share. The consensus price target of analysts covering the company's stock is $33.00 per share. Volume of 1.4 million shares is far above the daily average volume of 240,000 shares. Cognex Corporation (CGNX) released financial results after the market closed on Thursday that beat Wall Street estimates. Cognex Corporation reported 4th quarter earnings of 47 cents per share, on revenue of $84.92 million. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 41 cents per share, on revenue of $83.81 million. Cognex Corporation vision sensors and systems are used in factories around the world where they guide, inspect, gauge, identify and assure the quality of a wide range of items during the manufacturing process. Read more from Benzinga's Company news.