SoftBank Group (OTCMKTS:SFTBY) Trading 18.8% Higher – What’s Next?

Shares of SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) rose 18.8% on Tuesday . The company traded as high as $21.70 and last traded at $21.05. 1,018,475 shares changed hands during trading, a decline of 67% from the average session volume of 3,075,756 shares. The stock had previously closed at $17.7150.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein reissued an “outperform” rating on shares of SoftBank Group in a report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft raised shares of 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 report on Thursday, May 14th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, SoftBank Group presently has an average rating of “Hold”.

SoftBank Group Stock Up 4.2%

The company has a 50 day moving average of $17.36 and a 200-day moving average of $16.98. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.80 and a quick ratio of 0.78. The company has a market cap of $248.12 billion, a P/E ratio of 7.67 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 for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. SoftBank Group had a return on equity of 26.38% and a net margin of 62.60%.The business had revenue of $12.82 billion for the quarter, compared to analyst estimates of $12.23 billion. On average, equities analysts predict that SoftBank Group Corp. Unsponsored ADR will post -0.34 earnings per share 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.