SoftBank Group (OTCMKTS:SFTBY) Shares Gap Up – Here’s Why

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $11.10, but opened at $11.97. SoftBank Group shares last traded at $12.4380, with a volume of 808,006 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SFTBY shares. Citigroup initiated coverage on SoftBank Group in a research note on Monday, January 5th. They set a “buy” rating on the stock. Cantor Fitzgerald started coverage on SoftBank Group in a report on Monday, March 9th. They set an “overweight” rating for the company. Zacks Research upgraded shares of SoftBank Group to a “hold” rating in a report on Tuesday, March 10th. Jefferies Financial Group downgraded SoftBank Group from a “hold” rating to an “underperform” rating in a research report on Thursday, March 12th. Finally, BTIG Research assumed coverage on SoftBank Group in a report on Monday, January 5th. They issued a “buy” rating for the company. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus 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 firm has a market capitalization of $142.34 billion, a PE ratio of 5.75 and a beta of 1.46. The stock has a 50-day moving average price of $12.99 and a 200 day moving average price of $14.94.

SoftBank Group (OTCMKTS:SFTBY) last released its quarterly earnings results on Thursday, February 12th. The technology company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. The firm had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $12.44 billion. SoftBank Group had a net margin of 48.62% and a return on equity of 23.66%. Equities analysts forecast that SoftBank Group Corp. Unsponsored ADR will post 2.22 EPS 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.