SoftBank Group (OTCMKTS:SFTBY) Shares Gap Up – Time to Buy?

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $17.7068, but opened at $19.35. SoftBank Group shares last traded at $19.55, with a volume of 513,510 shares traded.

Wall Street Analysts Forecast Growth

SFTBY has been the subject of a number of recent analyst reports. Sanford C. Bernstein restated an “outperform” rating on shares of SoftBank Group in a research note on Wednesday, June 17th. TD Cowen reissued a “hold” rating on shares of SoftBank Group in a research report on Thursday, May 14th. Zacks Research raised shares of SoftBank Group to a “hold” rating in a report on Tuesday, March 10th. Cantor Fitzgerald began coverage on shares of SoftBank Group in a research note on Monday, March 9th. They set an “overweight” rating on the stock. Finally, Jefferies Financial Group lowered shares of SoftBank Group from a “hold” rating to an “underperform” rating in a report on Thursday, March 12th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, SoftBank Group currently has a consensus rating of “Hold”.

SoftBank Group Trading Up 7.9%

The company has a market cap of $218.31 billion, a P/E ratio of 6.60 and a beta of 1.84. The business has a fifty day simple moving average of $20.54 and a 200 day simple moving average of $15.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.78 and a current ratio of 0.80.

SoftBank Group (OTCMKTS:SFTBY) last posted its quarterly earnings results on Wednesday, May 13th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.86. The business had revenue of $13.17 billion for the quarter, compared to analyst estimates of $12.54 billion. SoftBank Group had a return on equity of 28.68% and a net margin of 64.12%. Analysts anticipate that SoftBank Group Corp. Unsponsored ADR will post 0.02 earnings per share for the current fiscal year.

About SoftBank Group

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.