NEW YORK (TheStreet) -- Shares of Juniper Networks (JNPR) - Get Report were rising 8.31% to $25.69 in after-hours trading on Tuesday after the computer network company posted higher-than-expected preliminary results for the 2016 third quarter and gave an upbeat fourth quarter view.
After today's closing bell, the Sunnyvale, CA-based company reported adjusted earnings of 58 cents per diluted share, topping analysts' estimates of 52 cents per share.
Revenue grew 3% year-over-year to $1.29 billion, while Wall Street was looking for $1.25 billion.
For the fourth quarter, Juniper projects adjusted earnings per share between 59 cents and 65 cents on revenue of about $1.35 billion. Analysts are modeling earnings of 60 cents per share on revenue of $1.32 billion for the current period.
About 7.65 million shares of Juniper have traded today vs. its 30-day average of 4.01 million shares.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its notable return on equity, attractive valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: JNPR