NEW YORK (TheStreet) -- Shares of VASCO Data Security (VDSI) were gaining 30.9% to $23.93 Tuesday after the security software company beat analysts' estimates for earnings and revenue in the third quarter.

VASCO reported EPS of 28 cents a share for the third quarter, beating the 14 cents a share analysts surveyed by Thomson Reuters expected for the quarter. Revenue grew 34.3% year over year to $52.6 million for the quarter, beating analysts' estimates of $42.8 million.

The company said it now expects revenue of $190 million for the full year 2014, up from its previous guidance of $175 million to $180 million for the year. Analysts expect revenue of $177.77 million for the year.

Must Read:Warren Buffett's 25 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreet Recommends

TheStreet Ratings team rates VASCO DATA SEC INTL INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate VASCO DATA SEC INTL INC (VDSI) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, compelling growth in net income and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

You can view the full analysis from the report here: VDSI Ratings Report

VDSI data by YCharts

Image placeholder title

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.