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 $42.82, but opened at $45.32. Trend Micro shares last traded at $46.50, with a volume of 2,303 shares trading hands.

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 investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Trend Micro Stock Performance

The firm has a market capitalization of $6.07 billion, a P/E ratio of 26.38 and a beta of 0.80. The stock’s 50 day simple moving average is $40.25 and its 200 day simple moving average is $38.58.

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