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

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) shares gapped up prior to trading on Thursday . The stock had previously closed at $12.58, but opened at $13.85. SoftBank Group shares last traded at $13.73, with a volume of 778,623 shares trading hands.

Analyst Ratings Changes

Several equities analysts have weighed in on SFTBY shares. Citigroup started coverage on SoftBank Group in a report on Monday, January 5th. They set a “buy” rating for the company. New Street Research cut SoftBank Group from a “buy” rating to a “neutral” rating in a research note on Thursday, September 25th. Finally, BTIG Research began coverage on shares of SoftBank Group in a research note on Monday, January 5th. They issued a “buy” rating for the company. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

SoftBank Group Stock Performance

The company has a 50-day moving average of $13.99 and a 200 day moving average of $14.32. The firm has a market capitalization of $156.39 billion, a PE ratio of 7.52 and a beta of 1.47. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 0.76.

SoftBank Group (OTCMKTS:SFTBY) last announced its earnings results on Tuesday, November 11th. The technology company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $1.34. The business had revenue of $12.44 billion for the quarter, compared to the consensus estimate of $12.61 billion. SoftBank Group had a net margin of 41.42% and a return on equity of 20.96%. Equities research analysts predict that SoftBank Group Corp. Unsponsored ADR will post 2.22 EPS for the current 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.