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

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY – Get Free Report)’s stock price gapped down before the market opened 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.

Analysts Set New Price Targets

SFTBY has been the topic of a number of recent analyst reports. 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 reissued an “outperform” rating on shares of SoftBank Group in a report on Wednesday, June 17th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold”.

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SoftBank Group Trading Down 14.6%

The stock has a 50-day moving average of $17.48 and a 200 day moving average of $17.09. The stock has a market cap of $211.22 billion, a PE ratio of 6.53 and a beta of 1.89. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 0.89.

SoftBank Group (OTCMKTS:SFTBY – Get Free Report) last posted 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 26.14%. The company had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.23 billion. As a group, sell-side analysts anticipate that SoftBank Group Corp. Unsponsored ADR will post -0.34 earnings per share for the current year.

About SoftBank Group

(Get Free Report)

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.

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