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

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $17.75, but opened at $19.00. SoftBank Group shares last traded at $19.54, with a volume of 381,287 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SFTBY shares. TD Cowen reiterated a “hold” rating on shares of SoftBank Group in a research note on Thursday, May 14th. Cantor Fitzgerald started coverage on shares of SoftBank Group in a research note on Monday, March 9th. They issued an “overweight” rating for the company. Zacks Research upgraded shares of SoftBank Group to a “hold” rating in a research note on Tuesday, March 10th. Jefferies Financial Group cut shares of SoftBank Group from a “hold” rating to an “underperform” rating in a research note on Thursday, March 12th. Finally, Sanford C. Bernstein started coverage on shares of SoftBank Group in a research note on Monday. They issued an “outperform” rating for the company. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

SoftBank Group Stock Up 4.5%

The business’s fifty day simple moving average is $14.85 and its 200 day simple moving average is $14.45. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. The stock has a market cap of $241.04 billion, a price-to-earnings ratio of 7.28 and a beta of 1.70.

SoftBank Group (OTCMKTS:SFTBY) last announced 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 company had revenue of $13.17 billion during the quarter, compared to analyst estimates of $12.54 billion. SoftBank Group had a net margin of 64.12% and a return on equity of 30.38%. Equities analysts forecast that SoftBank Group Corp. Unsponsored ADR will post 0.09 earnings per share 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.