CNXN Stock Summary and Trading Ideas (PC Connection | NASDAQ:CNXN)

PC Connection Inc is a provider of information technology solutions. It provides products such as computer systems, software and peripheral equipment, networking communications, and other products and accessories that company purchase from manufacturers and distributors. The company also offers services involving design, configuration, and implementation of IT solutions. It conducts business operations through three business segments namely Connection Business Solutions, Connection Enterprise Solutions, and Connection Public Sector Solutions. The company generates maximum revenue Connection Enterprise Solutions segment.

PC Connection trades on the NASDAQ stock market under the symbol CNXN.

As of April 19, 2024, CNXN stock price climbed to $62.82 with 45,165 million shares trading.

CNXN has a beta of 0.92, meaning it tends to be less sensitive to market movements. CNXN has a correlation of 0.16 to the broad based SPY ETF.

CNXN has a market cap of $1.65 billion. This is considered a Small Cap stock.

Last quarter PC Connection reported $696 million in Revenue and $.90 earnings per share. This beat revenue expectation by $23 million and exceeded earnings estimates by $.02.

In the last 3 years, CNXN stock traded as high as $70.55 and as low as $37.76.

The top ETF exchange traded funds that CNXN belongs to (by Net Assets): CALF, IJR, VTI, IWM, VGT.

CNXN has outperformed the market in the last year with a price return of +40.6% while the SPY ETF gained +21.2%. However, in the short term, CNXN had mixed performance relative to the market. It has underperformed in the last 3 months, returning -1.0% vs +4.3% return in SPY. But in the last 2 weeks, CNXN shares have fared better than the market returning -3.4% compared to SPY -3.5%.

CNXN support price is $61.19 and resistance is $63.03 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CNXN stock will trade within this expected range on the day.