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

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) shares gapped up before the market opened on Wednesday . The stock had previously closed at $13.09, but opened at $13.71. SoftBank Group shares last traded at $13.3690, with a volume of 1,148,434 shares trading hands.

Wall Street Analysts Forecast Growth

SFTBY has been the subject of a number of analyst reports. Citigroup initiated coverage on shares of SoftBank Group in a research report on Monday, January 5th. They issued a “buy” rating for the company. BTIG Research began coverage on SoftBank Group in a research report on Monday, January 5th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

SoftBank Group Stock Up 1.7%

The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.90 and a current ratio of 0.92. The firm has a market capitalization of $152.05 billion, a P/E ratio of 7.31 and a beta of 1.47. The stock has a fifty day moving average price of $13.80 and a two-hundred day moving average price of $14.48.

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