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

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $15.4707, but opened at $16.55. SoftBank Group shares last traded at $16.21, with a volume of 1,223,860 shares.

Analysts Set New Price Targets

Several research analysts have recently commented on SFTBY shares. TD Cowen reiterated a “hold” rating on shares of SoftBank Group in a research report on Thursday, May 14th. Sanford C. Bernstein reissued an “outperform” rating on shares of SoftBank Group in a research report on Wednesday, June 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded SoftBank Group from a “hold” rating to a “buy” rating in a research note on Friday, June 26th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.

SoftBank Group Trading Up 6.7%

The firm has a market cap of $188.49 billion, a P/E ratio of 5.69 and a beta of 1.87. The business’s 50-day moving average is $20.16 and its two-hundred day moving average is $16.28. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.85.

SoftBank Group (OTCMKTS:SFTBY) last issued its earnings results on Wednesday, May 13th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.86. SoftBank Group had a net margin of 64.12% and a return on equity of 28.68%. The firm had revenue of $13.17 billion for the quarter, compared to analysts’ expectations of $12.54 billion. As a group, analysts expect that SoftBank Group Corp. Unsponsored ADR will post 0.1 earnings per share for the current fiscal 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.