TD SYNNEX Corp. (NYSE:SNX) on Thursday reported upbeat fiscal second-quarter results.

Revenue increased 31% year over year to $19.58 billion, exceeding the analyst consensus estimate of $16.80 billion.

GAAP diluted earnings per share rose to $4.15 from $2.21 a year earlier. Non-GAAP diluted EPS increased 62.2% to $4.85, topping analysts’ estimate of $4.14.

For the fiscal third quarter, TD SYNNEX expects revenue of $18.2 billion to $19.0 billion, above the analyst consensus estimate of $16.83 billion.

The company forecasts non-GAAP gross billings of $27.2 billion to $28.2 billion, GAAP diluted EPS of $3.40 to $3.90, above the $3.04 estimate, and non-GAAP diluted EPS of $4.25 to $4.75, exceeding the consensus estimate of $4.03.

TD SYNNEX shares fell 2.4% to trade at $271.04 on Friday.

These analysts made changes to their price targets on TD SYNNEX following earnings announcement.

• Morgan Stanley analyst Erik Woodring maintained the stock with an Overweight rating and raised the price target from $341 to $374.
• Barrington Research analyst Vincent Colicchio maintained the stock with an Outperform rating and raised the price target from $202 to $325.

Considering buying SNX stock? Here’s what analysts think:

Photo via Shutterstock