Tintri, Inc. (TNTR) Shares Up 11.9%

Tintri, Inc. (NASDAQ:TNTR)’s share price shot up 11.9% during trading on Thursday . The stock traded as high as $3.40 and last traded at $3.39. 609,127 shares changed hands during mid-day trading, an increase of 63% from the average session volume of 373,628 shares. The stock had previously closed at $3.03.

Several brokerages have commented on TNTR. Morgan Stanley began coverage on Tintri in a research report on Tuesday, July 25th. They issued an “overweight” rating and a $10.00 price objective on the stock. Raymond James Financial, Inc. began coverage on Tintri in a research report on Tuesday, July 25th. They issued an “outperform” rating and a $9.00 price objective on the stock. Needham & Company LLC began coverage on Tintri in a research report on Tuesday, July 25th. They issued a “buy” rating and a $15.00 price objective on the stock. Bank of America Corporation began coverage on Tintri in a research report on Tuesday, July 25th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, KeyCorp began coverage on Tintri in a research report on Tuesday, July 25th. They issued an “overweight” rating and a $9.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $8.67.

The stock’s market capitalization is $106.19 million. The firm has a 50 day moving average of $3.56 and a 200 day moving average of $5.20.

Tintri (NASDAQ:TNTR) last issued its quarterly earnings data on Thursday, September 7th. The company reported ($2.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.97) by ($0.08). The firm had revenue of $34.87 million during the quarter, compared to analyst estimates of $35.68 million. The firm’s revenue was up 26.5% compared to the same quarter last year. On average, equities analysts predict that Tintri, Inc. will post ($3.48) earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc acquired a new stake in shares of Tintri in the second quarter valued at $146,000. Goldman Sachs Group Inc. acquired a new stake in shares of Tintri in the second quarter valued at $619,000. UBS Oconnor LLC acquired a new stake in shares of Tintri in the second quarter valued at $1,454,000. Federated Investors Inc. PA acquired a new stake in shares of Tintri in the second quarter valued at $2,181,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Tintri in the second quarter valued at $2,181,000. 50.56% of the stock is owned by institutional investors and hedge funds.

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Tintri Company Profile

Tintri, Inc is a United States-based company. The Company is engaged in the business of storage management solutions. The Company offers a range of products, including Tintri all-flash array, Tintri hybrid-flash array, Tintri Global Center (TGC), Tintri Analytics, Tintri Storage Software. The Company’s solutions include cloud, desktops, database system and servers, Data protection and disaster recovery and DevOps.

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