SoftBank Group (OTCMKTS:SFTBY) Stock Price Up 11.3% – Here’s What Happened

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) shares were up 11.3% on Tuesday. The stock traded as high as $21.45 and last traded at $21.39. Approximately 3,010,081 shares changed hands during mid-day trading, a decline of 5% from the average daily volume of 3,154,620 shares. The stock had previously closed at $19.22.

Analysts Set New Price Targets

Several equities research analysts have commented on SFTBY shares. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of SoftBank Group in a 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 equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, SoftBank Group has an average rating of “Moderate Buy”.

SoftBank Group Stock Performance

The stock has a market capitalization of $238.33 billion, a PE ratio of 7.37 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. The business’s fifty day moving average price is $17.91 and its 200-day moving average price is $17.69.

SoftBank Group (OTCMKTS:SFTBY) last issued its quarterly earnings data on Thursday, August 6th. The technology company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.07 by $0.12. SoftBank Group had a net margin of 62.60% and a return on equity of 26.14%. The company had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.23 billion. As a group, equities research 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 holding company focused on technology investments and telecommunications-related businesses. Founded by Masayoshi Son in 1981 as a distributor of computer software, the company expanded into internet services, mobile communications, and global technology investing. Its portfolio has included companies in artificial intelligence, e-commerce, fintech, enterprise software, semiconductors, and other technology sectors.

SoftBank Group manages investment activities through vehicles such as the SoftBank Vision Funds, which provide capital to technology companies at various stages of development.