SoftBank Group (OTCMKTS:SFTBY) Shares Gap Up – Here’s Why

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $18.3735, but opened at $20.32. SoftBank Group shares last traded at $20.36, with a volume of 397,033 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of SoftBank Group in a research report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft upgraded shares of SoftBank Group from a “hold” rating to a “buy” rating in a research note on Friday, June 26th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, SoftBank Group has a consensus rating of “Hold”.

SoftBank Group Price Performance

The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.68. The firm has a market cap of $231.33 billion, a P/E ratio of 7.15 and a beta of 1.89. The company has a 50-day moving average of $17.48 and a 200 day moving average of $17.12.

SoftBank Group (OTCMKTS:SFTBY) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. SoftBank Group had a return on equity of 26.14% and a net margin of 62.60%.The firm had revenue of $12.82 billion for the quarter, compared to analysts’ expectations of $12.23 billion. On average, sell-side analysts anticipate that SoftBank Group Corp. Unsponsored ADR will post -0.34 EPS for the current year.

About SoftBank Group

SoftBank Group Corp. is a Japanese technology investment and holding company founded by Masayoshi Son in 1981. The company initially focused on software distribution and technology publishing before expanding into telecommunications, internet services and global technology investments. SoftBank Group is headquartered in Tokyo and invests in businesses across Japan, North America, Europe, Asia and other international markets.

The company’s primary activities include managing technology-focused investment funds, making direct investments in technology companies and holding strategic stakes in businesses across areas such as artificial intelligence, cloud computing, telecommunications, e-commerce and financial technology.