TriNet Group Shares Gap Up After Analyst Upgrade (TNET)
Shares of TriNet Group (NASDAQ:TNET) gapped up prior to trading on Wednesday after Jefferies Group raised their price target on the stock from $23.00 to $26.00, AnalystRatings.Net reports. The stock had previously closed at $29.07, but opened at $29.14. Jefferies Group currently has a hold rating on the stock. TriNet Group shares last traded at $29.25, with a volume of 167,462 shares changing hands.
A number of other firms have also recently commented on TNET. 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 given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $28.88.
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 $1.981 billion and a price-to-earnings ratio of 170.41.
TriNet Group (NASDAQ:TNET) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue 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.
TriNet Group Inc is a provider of a comprehensive human resources solution for small to medium-sized businesses (NASDAQ:TNET).
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