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

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) shares gapped down prior to trading on Monday . The stock had previously closed at $21.65, but opened at $18.51. SoftBank Group shares last traded at $18.62, with a volume of 847,053 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SFTBY. Deutsche Bank Aktiengesellschaft upgraded shares of SoftBank Group from a “hold” rating to a “buy” rating in a research note on Friday, June 26th. Sanford C. Bernstein reiterated an “outperform” rating on shares of SoftBank Group in a research note on Wednesday, June 17th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.

SoftBank Group Stock Up 9.3%

The firm has a market capitalization of $229.50 billion, a P/E ratio of 7.09 and a beta of 1.89. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.67 and a current ratio of 0.68. The stock has a 50 day moving average of $17.53 and a 200-day moving average of $17.17.

SoftBank Group (OTCMKTS:SFTBY) last issued its earnings results on Thursday, August 6th. The technology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. The firm had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.23 billion. SoftBank Group had a net margin of 62.60% and a return on equity of 26.14%. Research analysts predict that SoftBank Group Corp. Unsponsored ADR will post -0.34 earnings per share for the current fiscal year.

SoftBank Group Company Profile

SoftBank Group Corp. is a Japanese technology investment and holding company founded by Masayoshi Son in 1981. The company initially focused on software distribution and technology publishing before expanding into telecommunications, internet services and global technology investments. SoftBank Group is headquartered in Tokyo and invests in businesses across Japan, North America, Europe, Asia and other international markets.

The company’s primary activities include managing technology-focused investment funds, making direct investments in technology companies and holding strategic stakes in businesses across areas such as artificial intelligence, cloud computing, telecommunications, e-commerce and financial technology.