What Happened?
Shares of geospatial technology provider Trimble (NASDAQ:TRMB) jumped 17.3% in the morning session after the company reported strong third-quarter earnings, which blew past analysts' sales and profit expectations. Guidance was also strong as it raised its full-year EPS guidance. On the other hand, its organic revenue missed, but this quarter still had some key positives.
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What The Market Is Telling Us
Trimble’s shares are not very volatile and have only had 2 moves greater than 5% over the last year. Moves this big are rare for Trimble and indicate this news significantly impacted the market’s perception of the business.
Trimble is up 35.8% since the beginning of the year, and at $71.23 per share, has set a new 52-week high. Investors who bought $1,000 worth of Trimble’s shares 5 years ago would now be looking at an investment worth $1,775.
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