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 Thursday . The stock had previously closed at $21.16, but opened at $19.75. SoftBank Group shares last traded at $19.8850, with a volume of 470,927 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SFTBY. Deutsche Bank Aktiengesellschaft raised shares of SoftBank Group from a “hold” rating to a “buy” rating in a research report on Friday, June 26th. Sanford C. Bernstein reissued an “outperform” rating on shares of SoftBank Group in a research note on Wednesday, June 17th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

SoftBank Group Price Performance

The firm has a fifty day moving average of $17.79 and a two-hundred day moving average of $17.52. The stock has a market capitalization of $225.62 billion, a P/E ratio of 6.97 and a beta of 1.89. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.68 and a quick ratio of 0.67.

SoftBank Group (OTCMKTS:SFTBY) last issued its earnings results on Thursday, August 6th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.12. The company had revenue of $12.82 billion for the quarter, compared to analysts’ expectations of $12.23 billion. SoftBank Group had a net margin of 62.60% and a return on equity of 26.14%. On average, analysts predict 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.