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

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY – Get Free Report)’s share price gapped up before the market opened on Wednesday. The stock had previously closed at $19.62, but opened at $20.25. SoftBank Group shares last traded at $19.40, with a volume of 207,093 shares traded.

Analysts Set New Price Targets

A number of research firms have recently commented on SFTBY. Sanford C. Bernstein reissued an “outperform” rating on shares of SoftBank Group in a research report on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft upgraded shares of 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, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, SoftBank Group has an average rating of “Moderate Buy”.

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SoftBank Group Stock Performance

The firm’s fifty day moving average price is $18.32 and its 200-day moving average price is $18.06. The company has a market cap of $224.02 billion, a P/E ratio of 6.92 and a beta of 1.91. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89.

SoftBank Group (OTCMKTS:SFTBY – Get Free Report) last released its earnings results on Thursday, August 6th. The technology company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.12. SoftBank Group had a net margin of 62.60% and a return on equity of 26.14%. The business had revenue of $12.82 billion during the quarter, compared to analysts’ expectations of $12.23 billion. As a group, research analysts forecast that SoftBank Group Corp. Unsponsored ADR will post -0.34 EPS for the current fiscal year.

SoftBank Group Company Profile

(Get Free Report)

SoftBank Group Corp. is a Japanese holding company focused on technology investments and telecommunications-related businesses. Founded by Masayoshi Son in 1981 as a distributor of computer software, the company expanded into internet services, mobile communications, and global technology investing. Its portfolio has included companies in artificial intelligence, e-commerce, fintech, enterprise software, semiconductors, and other technology sectors.

SoftBank Group manages investment activities through vehicles such as the SoftBank Vision Funds, which provide capital to technology companies at various stages of development.

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