SoftBank Group (OTCMKTS:SFTBY) Shares Gap Down – Here’s What Happened

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $17.4650, but opened at $16.88. SoftBank Group shares last traded at $17.06, with a volume of 432,292 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SFTBY shares. TD Cowen reaffirmed a “hold” rating on shares of SoftBank Group in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft upgraded SoftBank Group from a “hold” rating to a “buy” rating in a report on Friday, June 26th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of SoftBank Group in a research report on Wednesday, June 17th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold”.

SoftBank Group Trading Down 5.0%

The business has a 50 day moving average of $18.63 and a two-hundred day moving average of $16.67. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.85. The firm has a market cap of $189.63 billion, a P/E ratio of 5.86 and a beta of 1.87.

SoftBank Group (OTCMKTS:SFTBY) last posted its earnings results on Thursday, August 6th. The technology company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.07 by $0.12. SoftBank Group had a return on equity of 26.38% and a net margin of 62.60%.The company had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.23 billion. Analysts predict that SoftBank Group Corp. Unsponsored ADR will post -0.34 earnings per share for the current year.

SoftBank Group Company Profile

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.