TriNet Group’s “Buy” Rating Reaffirmed at Deutsche Bank (TNET)
TriNet Group (NASDAQ:TNET)‘s stock had its “buy” rating reaffirmed by equities researchers at Deutsche Bank in a research report issued on Tuesday. They currently have a $24.00 target price on the stock, down from their previous target price of $27.00. Deutsche Bank’s target price points to a potential downside of 11.37% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus raised their price target on shares of TriNet Group from $28.00 to $31.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Analysts at Morgan Stanley initiated coverage on shares of TriNet Group in a research note on Tuesday, June 3rd. They set an “overweight” rating on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $26.25.
TriNet Group (NASDAQ:TNET) traded up 9.55% on Tuesday, hitting $27.08. The stock had a trading volume of 969,822 shares. TriNet Group has a 52-week low of $17.28 and a 52-week high of $27.78. The stock’s 50-day moving average is $23.74 and its 200-day moving average is $23.27. The company has a market cap of $1.870 billion and a P/E ratio of 161.57.
TriNet Group (NASDAQ:TNET) last announced its earnings results on Monday, August 4th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.02. The company had revenue of $124.80 million for the quarter, compared to the consensus estimate of $120.23 million. During the same quarter last year, the company posted $0.18 earnings per share. TriNet Group’s revenue was up 44.5% compared to the same quarter last year. On average, analysts predict that TriNet Group will post $1.03 earnings per share for the current fiscal year.
TriNet Group Inc is a provider of a comprehensive human resources solution for small to medium-sized businesses (NASDAQ:TNET).
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