Rakuten (OTCMKTS:RKUNY) Shares Gap Up – Still a Buy?

Rakuten, Inc. (OTCMKTS:RKUNY) shares gapped up before the market opened on Wednesday . The stock had previously closed at $6.11, but opened at $6.39. Rakuten shares last traded at $6.4020, with a volume of 2,629 shares traded.

Analyst Upgrades and Downgrades

Separately, Nomura Securities raised shares of Rakuten from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, According to MarketBeat, the company presently has an average rating of “Strong Buy”.

Rakuten Stock Performance

The stock has a market capitalization of $13.90 billion, a price-to-earnings ratio of -12.82 and a beta of 1.17. The company’s fifty day simple moving average is $6.24 and its 200 day simple moving average is $5.96. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.70.

Rakuten (OTCMKTS:RKUNY) last announced its earnings results on Thursday, November 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.15). Rakuten had a negative return on equity of 13.96% and a negative net margin of 6.67%.The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.21 billion. On average, equities research analysts expect that Rakuten, Inc. will post 0.06 earnings per share for the current year.

About Rakuten

Rakuten, Inc is a diversified internet services company based in Tokyo, Japan, and founded in 1997 by Hiroshi Mikitani, who continues to serve as chairman and chief executive officer. Originally established as an online marketplace, Rakuten has expanded its reach to become a global technology group offering a wide range of digital services and consumer-facing platforms. The company is listed in Japan but its American depositary receipts trade over the counter under the symbol RKUNY.

At the core of Rakuten’s business is its e-commerce marketplace, Rakuten Ichiba, which hosts millions of merchants and serves tens of millions of customers across Japan and other key markets.