Trend Micro (OTCMKTS:TMICY) Stock Jumps 7.8% – Here’s What Happened

Trend Micro Inc. (OTCMKTS:TMICY) shot up 7.8% during mid-day trading on Friday. The stock traded as high as $46.15 and last traded at $46.14. 2,007 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 25,814 shares. The stock had previously closed at $42.82.

Analysts Set New Price Targets

Separately, Zacks Research downgraded shares of Trend Micro from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Trend Micro has a consensus rating of “Moderate Buy”.

Trend Micro Price Performance

The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 26.19 and a beta of 0.80. The stock’s 50 day simple moving average is $40.42 and its 200-day simple moving average is $38.67.

Trend Micro (OTCMKTS:TMICY) last posted its earnings results on Thursday, August 13th. The technology company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.23). Trend Micro had a net margin of 12.30% and a return on equity of 28.58%. The company had revenue of $469.40 million for the quarter, compared to the consensus estimate of $456.51 million. As a group, equities research analysts anticipate that Trend Micro Inc. will post 1.41 earnings per share for the current fiscal year.

About Trend Micro

Trend Micro Incorporated is a global cybersecurity company that develops security solutions for businesses, governments and individual consumers. Its products and services are designed to protect endpoints, servers, networks, email systems, cloud environments and connected devices from malware, ransomware, phishing and other cyber threats.

The company offers cloud and network security, endpoint protection, email security, data center security and extended detection and response (XDR) solutions.