SoftBank Group (OTCMKTS:SFTBY) Raised to “Hold” at Jefferies Financial Group

SoftBank Group (OTCMKTS:SFTBY) was upgraded by equities research analysts at Jefferies Financial Group from an “underperform” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, MarketBeat reports.

SoftBank Group Stock Up 7.5%

Shares of SoftBank Group stock traded up $1.05 during trading on Wednesday, hitting $15.03. 158,618 shares of the company were exchanged, compared to its average volume of 3,322,820. The stock has a market capitalization of $171.70 billion, a price-to-earnings ratio of 5.31 and a beta of 1.91. SoftBank Group has a fifty-two week low of $10.55 and a fifty-two week high of $28.97. The firm has a 50 day moving average price of $17.94 and a 200 day moving average price of $16.72.

SoftBank Group (OTCMKTS:SFTBY) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. The company had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.23 billion. Analysts predict that SoftBank Group will post -0.34 earnings per share for the current year.

SoftBank Group Company Profile

SoftBank Group Corp. is a Japanese holding company focused on technology, telecommunications and investment activities. Founded in 1981 by Masayoshi Son, the company began as a distributor of computer software before expanding into internet businesses, mobile communications and technology investing. It is headquartered in Tokyo and serves markets in Japan and internationally.

SoftBank Group’s activities include managing investments in technology companies through its investment portfolio and SoftBank Vision Funds, which have backed businesses in areas such as artificial intelligence, software, e-commerce, financial technology, robotics and communications.