SoftBank Group (OTCMKTS:SFTBY) Shares Gap Down – What’s Next?

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) gapped down prior to trading on Thursday . The stock had previously closed at $26.20, but opened at $22.75. SoftBank Group shares last traded at $22.82, with a volume of 501,388 shares trading hands.

Analysts Set New Price Targets

SFTBY has been the topic of several analyst reports. Cantor Fitzgerald initiated coverage on shares of SoftBank Group in a report on Monday, March 9th. They issued an “overweight” rating on the stock. TD Cowen reaffirmed a “hold” rating on shares of SoftBank Group in a report on Thursday, May 14th. Sanford C. Bernstein initiated coverage on shares of SoftBank Group in a report on Monday, May 18th. They issued an “outperform” rating on the stock. Jefferies Financial Group downgraded shares of SoftBank Group from a “hold” rating to an “underperform” rating in a report on Thursday, March 12th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of SoftBank Group from a “buy” rating to a “hold” rating in a report on Tuesday. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold”.

SoftBank Group Trading Down 8.3%

The firm has a market cap of $247.44 billion, a PE ratio of 7.48 and a beta of 1.79. The company’s fifty day moving average price is $17.45 and its two-hundred day moving average price is $14.87. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 0.96.

SoftBank Group (OTCMKTS:SFTBY) last issued its earnings results on Wednesday, May 13th. The technology company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.86. The business had revenue of $13.17 billion for the quarter, compared to the consensus estimate of $12.54 billion. SoftBank Group had a net margin of 64.12% and a return on equity of 30.38%. As a group, sell-side analysts forecast that SoftBank Group Corp. Unsponsored ADR will post 0.02 earnings per share for the current fiscal year.

About SoftBank Group

SoftBank Group Corp is a Tokyo‐based multinational conglomerate holding company with a primary focus on technology, telecommunications and investment management. Founded in 1981 by Masayoshi Son, the company initially operated as a software distributor before expanding into mobile communications and internet services. Over the years, SoftBank has built a diversified portfolio that spans telecom operators, semiconductor design, cloud computing, and emerging technology ventures.

A key pillar of SoftBank’s strategy is its investment arm, the SoftBank Vision Fund, which targets high‐growth technology companies around the globe.