TriNet Group Receives “Overweight” Rating from JPMorgan Chase & Co. (TNET)
TriNet Group (NASDAQ:TNET)‘s stock had its “overweight” rating reaffirmed by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Wednesday. They currently have a $34.00 price objective on the stock, up from their previous price objective of $29.00. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 16.68% from the stock’s previous close.
TriNet Group (NASDAQ:TNET) traded up 1.44% during mid-day trading on Wednesday, hitting $29.56. The stock had a trading volume of 142,218 shares. TriNet Group has a 52 week low of $17.28 and a 52 week high of $29.26. The stock has a 50-day moving average of $24.15 and a 200-day moving average of $23.56. The company has a market cap of $2.043 billion and a price-to-earnings ratio of 170.41.
TriNet Group (NASDAQ:TNET) last released its earnings data 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. On average, analysts predict that TriNet Group will post $1.09 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of TriNet Group from $23.00 to $26.00 in a research note on Tuesday. They now have a “hold” rating on the stock. Separately, 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. Finally, 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. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $28.88.
TriNet Group Inc is a provider of a comprehensive human resources solution for small to medium-sized businesses (NASDAQ:TNET).
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