Internet Initiative Japan (OTCMKTS:IIJIY) Shares Gap Up - Here's Why

Key Points

• The shares of Internet Initiative Japan (OTCMKTS:IIJIY) gapped up from $37.90 to $40.70 before market opening, with a total volume of 124 shares traded.
• Despite a recent earnings miss, with EPS at $0.29 below the $0.37 estimate, analysts maintain a strong outlook with an average rating of "Strong Buy."
• The company's market cap stands at $3.73 billion, and its PE ratio is reported at 26.78, indicating investor confidence in its growth potential.

Shares of Internet Initiative Japan, Inc. (OTCMKTS:IIJIY - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $37.90, but opened at $40.70. Internet Initiative Japan shares last traded at $40.70, with a volume of 124 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently commented on IIJIY shares. Wall Street Zen lowered shares of Internet Initiative Japan from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Jefferies Financial Group upgraded shares of Internet Initiative Japan from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company has an average rating of "Strong Buy".

Internet Initiative Japan Stock Performance

The company has a market capitalization of $3.73 billion, a PE ratio of 26.78 and a beta of 1.02. The company's 50-day simple moving average is $37.95 and its 200-day simple moving average is $36.66.

Internet Initiative Japan (OTCMKTS:IIJIY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The communications equipment provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.08). Internet Initiative Japan had a net margin of 6.32% and a return on equity of 14.91%. The company had revenue of $521.19 million during the quarter, compared to analyst estimates of $534.99 million. Analysts expect that Internet Initiative Japan, Inc. will post 0.37 EPS for the current year.

About Internet Initiative Japan

Internet Initiative Japan Inc provides Internet connectivity, WAN, outsourcing, systems integration, and network-related equipment sales services in Japan. It operates through two segments, Network Services and Systems Integration Business, and ATM Operation Business. The company offers mobile communication and remote access/telework services; WAN/network services, including SDN, multi-cloud network, closed connection, internet VPN, SEIL, remote access, wireless LAN, and GIGA-school; leased line and broadband services; IIJ DNS platform, and domain name registration and maintenance services; IIJ access ID management, dial-up access, and IIJ IPv6 fiber access services; and security solutions for IIJ managed firewall, DDoS protection, and managed IPS/IDS services.

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