Robert Half's stock soared 10.37% during pre-market trading on Friday.
The significant upward movement followed the release of the company's fourth-quarter financial results, which exceeded analyst expectations and signaled improving business trends. The talent solutions provider reported quarterly earnings of $0.32 per share, beating the consensus estimate of $0.30. Revenue for the quarter came in at $1.302 billion, also surpassing expectations of $1.289 billion.
Notably, the company achieved positive sequential growth in talent solutions and enterprise revenues on a same-day constant currency basis for the first time in over three years. Management highlighted positive weekly revenue trends during the quarter that extended into January. Following the results, JP Morgan raised its price target on Robert Half shares from $29 to $31, reflecting increased analyst confidence in the company's improving fundamentals.