Zacks Investment Research Downgrades Rakuten Inc (RKUNY) to Sell

Rakuten Inc (NASDAQ:RKUNY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “Rakuten, Inc. engages in the internet services business. Its operating segments consist of Internet Services, FinTech and Others. Internet Services segment manages e-commerce, online cash-back, travel booking, and portal and digital content sites. FinTech segment provides services over the internet related to banking and securities, credit cards, life insurance and electronic money. Others segment includes the provision of messaging and communication services and management of a Japanese professional baseball team. Rakuten, Inc. is headquartered in Tokyo, Japan. “

Shares of Rakuten Inc (RKUNY) opened at 11.92 on Tuesday. Rakuten Inc has a 12 month low of $9.19 and a 12 month high of $13.97. The firm has a 50-day moving average price of $12.04 and a 200-day moving average price of $11.13. The stock has a market cap of $16.44 billion and a PE ratio of 36.23.

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