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

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $18.10, but opened at $16.76. SoftBank Group shares last traded at $16.92, with a volume of 224,148 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of SoftBank Group in a report on Monday. They issued an “outperform” rating for the company. Jefferies Financial Group downgraded shares of SoftBank Group from a “hold” rating to an “underperform” rating in a report on Thursday, March 12th. Cantor Fitzgerald assumed coverage on shares of SoftBank Group in a report on Monday, March 9th. They set an “overweight” rating for the company. TD Cowen reaffirmed a “hold” rating on shares of SoftBank Group in a report on Thursday, May 14th. Finally, Zacks Research raised shares of SoftBank Group to a “hold” rating in a report on Tuesday, March 10th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

SoftBank Group Stock Up 2.8%

The business’s fifty day moving average price is $14.50 and its 200 day moving average price is $14.41. The company has a market capitalization of $202.77 billion, a P/E ratio of 6.13 and a beta of 1.70. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96.

SoftBank Group (OTCMKTS:SFTBY) last announced its quarterly earnings results on Wednesday, May 13th. The technology company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.86. SoftBank Group had a net margin of 64.12% and a return on equity of 30.38%. The firm had revenue of $13.17 billion during the quarter, compared to the consensus estimate of $12.54 billion. As a group, equities research analysts predict that SoftBank Group Corp. Unsponsored ADR will post 0.09 earnings per share for the current fiscal year.

About SoftBank Group

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.