SoftBank Group (OTCMKTS:SFTBY) Shares Up 18.8% – Here’s What Happened

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBYGet Free Report) traded up 18.8% during mid-day trading on Tuesday . The stock traded as high as $21.70 and last traded at $21.05. 1,018,475 shares traded hands during trading, a decline of 67% from the average daily volume of 3,075,756 shares. The stock had previously closed at $17.7150.

Analysts Set New Price Targets

Several analysts have commented on the stock. Sanford C. Bernstein restated an “outperform” rating on shares of SoftBank Group in a report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft upgraded SoftBank Group from a “hold” rating to a “buy” rating in a report on Friday, June 26th. Finally, TD Cowen reissued a “hold” rating on shares of SoftBank Group in a research report on Thursday, May 14th. Five 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. According to data from MarketBeat.com, SoftBank Group presently has an average rating of “Hold”.

Check Out Our Latest Report on SFTBY

SoftBank Group Price Performance

The firm has a fifty day moving average price of $17.24 and a two-hundred day moving average price of $16.88. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $234.99 billion, a P/E ratio of 7.26 and a beta of 1.89.

SoftBank Group (OTCMKTS:SFTBYGet Free Report) last announced its quarterly earnings results on Thursday, August 6th. The technology company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. SoftBank Group had a net margin of 62.60% and a return on equity of 26.38%. The company had revenue of $12.82 billion for the quarter, compared to analysts’ expectations of $12.23 billion. On average, analysts expect that SoftBank Group Corp. Unsponsored ADR will post -0.34 EPS for the current year.

About SoftBank Group

(Get Free Report)

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.

Further Reading

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