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

Shares of SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) gapped up before the market opened on Thursday . The stock had previously closed at $17.7068, but opened at $19.35. SoftBank Group shares last traded at $19.55, with a volume of 513,510 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SFTBY. Deutsche Bank Aktiengesellschaft upgraded shares of SoftBank Group from a “hold” rating to a “buy” rating in a report on Friday, June 26th. TD Cowen reaffirmed a “hold” rating on shares of SoftBank Group in a research report on Thursday, May 14th. Jefferies Financial Group lowered SoftBank Group from a “hold” rating to an “underperform” rating in a research note on Thursday, March 12th. Zacks Research upgraded SoftBank Group to a “hold” rating in a report on Tuesday, March 10th. Finally, Cantor Fitzgerald began coverage on SoftBank Group in a report on Monday, March 9th. They set an “overweight” rating for the company. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

SoftBank Group Stock Performance

The stock has a 50 day simple moving average of $20.54 and a 200 day simple moving average of $15.74. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 0.85. The company has a market cap of $218.31 billion, a price-to-earnings ratio of 6.60 and a beta of 1.84.

SoftBank Group (OTCMKTS:SFTBY) last announced its earnings results on Wednesday, May 13th. The technology company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.16 by $0.86. SoftBank Group had a return on equity of 28.68% and a net margin of 64.12%.The business had revenue of $13.17 billion for the quarter, compared to the consensus estimate of $12.54 billion. As a group, analysts predict that SoftBank Group Corp. Unsponsored ADR will post 0.02 EPS for the current 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.