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

Trend Micro Inc. (OTCMKTS:TMICY) shares gapped up prior to trading on Friday following a stronger than expected earnings report. 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.

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

Wall Street Analyst Weigh In

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

Trend Micro Trading Up 6.0%

The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 25.54 and a beta of 0.80. The stock has a 50-day simple moving average of $43.08 and a 200 day simple 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.