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

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $15.88, but opened at $15.38. SoftBank Group shares last traded at $15.57, with a volume of 314,348 shares traded.

Analyst Upgrades and Downgrades

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

SoftBank Group Stock Performance

The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.78 and a current ratio of 0.80. The company has a fifty day moving average of $17.31 and a two-hundred day moving average of $16.83. The firm has a market capitalization of $187.81 billion, a price-to-earnings ratio of 5.80 and a beta of 1.89.

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