Rakuten, Inc. (OTCMKTS:RKUNY – Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $4.38, but opened at $4.75. Rakuten shares last traded at $4.68, with a volume of 3,668 shares.
Analysts Set New Price Targets
Separately, Zacks Research raised Rakuten from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy”.
View Our Latest Research Report on RKUNY
Rakuten Trading Up 5.1%
Rakuten (OTCMKTS:RKUNY – Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.07. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Rakuten had a negative return on equity of 10.02% and a negative net margin of 4.83%.
About Rakuten
Rakuten, Inc is a diversified internet services company based in Tokyo, Japan, and founded in 1997 by Hiroshi Mikitani, who continues to serve as chairman and chief executive officer. Originally established as an online marketplace, Rakuten has expanded its reach to become a global technology group offering a wide range of digital services and consumer-facing platforms. The company is listed in Japan but its American depositary receipts trade over the counter under the symbol RKUNY.
At the core of Rakuten’s business is its e-commerce marketplace, Rakuten Ichiba, which hosts millions of merchants and serves tens of millions of customers across Japan and other key markets.
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