Jefferies Financial Group Upgrades SoftBank Group (OTCMKTS:SFTBY) to Hold

SoftBank Group (OTCMKTS:SFTBY) was upgraded by stock analysts at Jefferies Financial Group from an “underperform” rating to a “hold” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports.

SoftBank Group Stock Performance

SFTBY traded up $1.05 during trading on Wednesday, hitting $15.03. 158,618 shares of the stock were exchanged, compared to its average volume of 3,322,820. The firm has a 50 day simple moving average of $17.94 and a 200 day simple moving average of $16.72. SoftBank Group has a 1 year low of $10.55 and a 1 year high of $28.97. The firm has a market cap of $171.70 billion, a price-to-earnings ratio of 5.31 and a beta of 1.91.

SoftBank Group (OTCMKTS:SFTBY) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.12. The business had revenue of $12.82 billion during the quarter, compared to analyst estimates of $12.23 billion. As a group, equities analysts anticipate that SoftBank Group will post -0.34 earnings per share for the current fiscal year.

About SoftBank Group

SoftBank Group Corp. is a Japanese holding company focused on technology, telecommunications and investment activities. Founded in 1981 by Masayoshi Son, the company began as a distributor of computer software before expanding into internet businesses, mobile communications and technology investing. It is headquartered in Tokyo and serves markets in Japan and internationally.

SoftBank Group’s activities include managing investments in technology companies through its investment portfolio and SoftBank Vision Funds, which have backed businesses in areas such as artificial intelligence, software, e-commerce, financial technology, robotics and communications.