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

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) 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 trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of SoftBank Group in a report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft raised SoftBank Group from a “hold” rating to a “buy” rating in a report on Friday, June 26th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

SoftBank Group Stock Up 1.0%

The business’s fifty day moving average price is $17.87 and its 200 day moving average price is $17.59. The firm has a market capitalization of $225.62 billion, a price-to-earnings ratio of 6.97 and a beta of 1.89. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89.

SoftBank Group (OTCMKTS:SFTBY) last issued its quarterly 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 net margin of 62.60% and a return on equity of 26.14%. The firm had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.23 billion. On average, equities analysts expect that SoftBank Group Corp. Unsponsored ADR will post -0.34 EPS for the current year.

SoftBank Group Company Profile

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.