Why TriNet Group (TNET) Stock Is Up In Pre-Market Trading Today

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.

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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".

TNET Chart

TNET data by YCharts


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Strong On High Relative Volume: Trinet Group (TNET)