Trend Micro (OTCMKTS:TMICY) Shares Gap Up on Earnings Beat

Trend Micro Inc. (OTCMKTS:TMICY) shares gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $42.42, but opened at $44.95. Trend Micro shares last traded at $44.95, with a volume of 1,035 shares trading hands.

The technology company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Trend Micro had a net margin of 12.30% and a return on equity of 28.58%. The firm had revenue of $471.19 million for the quarter, compared to analyst estimates of $477.36 million.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Trend Micro from a “strong sell” rating to a “hold” rating in a research report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy”.

Trend Micro Stock Performance

The stock has a market capitalization of $5.87 billion, a P/E ratio of 25.54 and a beta of 0.80. The stock has a 50 day moving average of $43.08 and a 200 day moving average of $38.34.

About Trend Micro

Trend Micro is a global cybersecurity company that develops software and services to help organizations and individuals protect against digital threats. Its offerings cover endpoint, network, cloud and email security, as well as threat detection and response. The company’s portfolio includes Trend Vision One, a cybersecurity platform that brings together threat detection, investigation and response capabilities, and products for protecting cloud environments and devices. Trend Micro also provides threat intelligence and security services to businesses, governments and consumers.