TriNet Group Trading Up 2.8% on Analyst Upgrade (TNET)
TriNet Group (NASDAQ:TNET) shares were up 2.8% on Tuesday after Jefferies Group raised their price target on the stock from $23.00 to $26.00, AnalystRatingsNetwork.com reports. Jefferies Group currently has a hold rating on the stock. TriNet Group traded as high as $29.26 and last traded at $29.06, with a volume of 293,649 shares trading hands. The stock had previously closed at $28.27.
Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of TriNet Group from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 7th. They now have a $29.40 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of TriNet Group in a research note on Tuesday, August 5th. They now have a $24.00 price target on the stock, down previously from $27.00. Finally, 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, August 5th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $27.48.
The stock’s 50-day moving average is $24.01 and its 200-day moving average is $23.50. The company has a market cap of $2.009 billion and a price-to-earnings ratio of 165.32.
TriNet Group (NASDAQ:TNET) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 44.5% on a year-over-year basis. Analysts expect that TriNet Group will post $1.09 EPS 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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