Shares of ePlus Inc. (PLUS) are surging 8.59% in pre-market trading on Friday, following the company's impressive second-quarter earnings report that exceeded analysts' expectations. The IT solutions provider demonstrated robust financial performance, signaling strong business momentum.

ePlus reported adjusted earnings of $1.26 per share for the quarter ended June 30, significantly beating the mean analyst estimate of $1.17. This performance also marked an improvement from the $1.13 per share reported in the same quarter last year. The company's revenue saw a substantial increase of 17% year-over-year, reaching $637.32 million and surpassing the expected $516.69 million by a wide margin.

The strong quarterly results have reinforced analyst confidence in ePlus. The current average analyst rating on the shares is "strong buy," with a median 12-month price target of $92.00, representing a potential upside of about 31.2% from its last closing price. This positive outlook, combined with the company's ability to outperform in a challenging economic environment, appears to be driving investor enthusiasm and contributing to the stock's pre-market surge.