NEW YORK (TheStreet) -- Cognex (CGNX) shares are up 18.6% to $44.85 in after-hours trading on Monday after raising its third quarter revenue guidance to between $165 million - $170 million, well ahead of analysts revenue expectations of $141.98 million.
The machine vision products manufacturer reported second quarter earning of 32 cents per diluted share, 10 cents better than analysts estimates, on revenue of $108.80 million that came in ahead of analysts $103.25 million guidance.
TheStreet Ratings team rates COGNEX CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate COGNEX CORP (CGNX) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."