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

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) shares gapped down before the market opened on Tuesday . The stock had previously closed at $18.10, but opened at $16.76. SoftBank Group shares last traded at $16.92, with a volume of 224,148 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SFTBY shares. Sanford C. Bernstein started coverage on shares of SoftBank Group in a research note on Monday. They set an “outperform” rating for the company. Jefferies Financial Group downgraded SoftBank Group from a “hold” rating to an “underperform” rating in a research report on Thursday, March 12th. TD Cowen reaffirmed a “hold” rating on shares of SoftBank Group in a research report on Thursday. Cantor Fitzgerald started coverage on shares of SoftBank Group in a research note on Monday, March 9th. They issued an “overweight” rating for the company. Finally, Zacks Research raised shares of SoftBank Group to a “hold” rating in a research note on Tuesday, March 10th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold”.

SoftBank Group Price Performance

The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The company’s 50 day moving average is $14.27 and its 200 day moving average is $14.47. The firm has a market capitalization of $195.23 billion, a price-to-earnings ratio of 5.90 and a beta of 1.70.

SoftBank Group (OTCMKTS:SFTBY) last released its quarterly earnings results on Wednesday, May 13th. The technology company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.16 by $0.86. SoftBank Group had a net margin of 64.12% and a return on equity of 30.38%. The business had revenue of $13.17 billion for the quarter, compared to the consensus estimate of $12.54 billion. On average, equities research analysts anticipate that SoftBank Group Corp. Unsponsored ADR will post 0.05 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.