Trend Micro (OTCMKTS:TMICY) Shares Gap Up – Here’s What Happened

Trend Micro Inc. (OTCMKTS:TMICY)’s stock price gapped up before the market opened on Thursday. The stock had previously closed at $44.05, but opened at $46.88. Trend Micro shares last traded at $46.88, with a volume of 8,401 shares.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered 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 issued a Sell rating to the stock. Based on data from MarketBeat, Trend Micro currently has a consensus rating of “Moderate Buy”.

Trend Micro Price Performance

The firm has a market cap of $6.13 billion, a P/E ratio of 26.64 and a beta of 0.80. The company’s 50-day moving average is $39.55 and its two-hundred day moving average is $37.70.

Trend Micro (OTCMKTS:TMICY) last released its earnings results on Thursday, August 13th. The technology company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.23). The firm had revenue of $469.40 million during the quarter, compared to the consensus estimate of $456.51 million. Trend Micro had a net margin of 12.30% and a return on equity of 28.58%. On average, analysts expect that Trend Micro Inc. will post 1.41 EPS for the current fiscal year.

About Trend Micro

Trend Micro Incorporated is a global cybersecurity company that develops security software and services for businesses, government organizations, small and medium-sized enterprises, and individual consumers. Its offerings are designed to protect endpoints, servers, networks, cloud environments, email systems, and other connected devices from malware, ransomware, phishing, data breaches, and other cyber threats.

The company provides cloud and hybrid-cloud security, endpoint and network defense, email security, identity protection, and extended detection and response (XDR) capabilities.