NEW YORK (TheStreet) -- Shares of TriNet Group (TNET) are surging 10.01% to $27.19 after the company reported better than expected second quarter earnings results after yesterday's close.
The business solutions company posted adjusted net income of $17.4 million, or 24 cents per diluted share for the quarter, up from $12.1 million, or 18 cents per diluted share, in the same quarter of last year, and beating analysts' estimate of 22 cents per share.
Revenue for the quarter was $124.8 million, up from $94.2 million in the second quarter of 2013, and higher than the consensus estimate of $120.23 million.
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Separately, Stifel Financial (SF) reiterated TriNet Group's "buy" rating this morning, and raised its price target to $31 from $28.