NEW YORK (TheStreet) -- TriNet Group (TNET) shares are climbing, up 7.2% to $23.45 in pre-market trading, following yesterday's release of its first quarter earnings results.
The company saw total revenue increase 45% from the year ago period to $508.9 million. The company posted first quarter net income of $1.5 million, or 3 cents per diluted share.
TriNet Group shares had coverage initiated at "hold" by analysts at Jefferies Group on Tuesday. The firm set a price target of $23 on the shares.
The analysts believe that while the company is set to be a player in the HR solutions market, its current valuation "seems full".
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