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

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) gapped up before the market opened on Wednesday. The stock had previously closed at $11.26, but opened at $12.23. SoftBank Group shares last traded at $12.10, with a volume of 618,881 shares trading hands.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group upgraded shares of SoftBank Group from an “underperform” rating to a “hold” rating in a research note on Wednesday, October 28th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

SoftBank Group Stock Performance

The business’s 50 day simple moving average is $17.25 and its two-hundred day simple moving average is $16.70. The firm has a market capitalization of $145.54 billion, a PE ratio of 4.50 and a beta of 2.07. 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) last posted its quarterly earnings data on Tuesday, November 10th. The technology company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.55). SoftBank Group had a net margin of 62.60% and a return on equity of 26.14%. The firm had revenue of $13.96 billion for the quarter, compared to analysts’ expectations of $12.68 billion. Research analysts expect that SoftBank Group Corp. Unsponsored ADR will post -0.34 earnings per share for the current fiscal year.

SoftBank Group Company Profile

SoftBank Group is a Japan-based holding company focused on technology businesses and investments. Founded in 1981 by Masayoshi Son, it began as a software distributor and expanded into telecommunications and a broad portfolio of technology-related businesses. The group’s activities include operating and investing in companies involved in mobile and broadband communications, internet services, artificial intelligence, semiconductors, and other technology fields. Its portfolio includes Arm, a semiconductor and software-design company, and it invests in businesses through vehicles such as the SoftBank Vision Funds.