SoftBank Group (OTCMKTS:SFTBY) Shares Gap Down – Here’s Why
by Doug Wharley · The Cerbat GemSoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY – Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $22.23, but opened at $19.64. SoftBank Group shares last traded at $19.94, with a volume of 495,671 shares changing hands.
Analysts Set New Price Targets
SFTBY has been the topic of a number of recent analyst reports. TD Cowen reissued a “hold” rating on shares of SoftBank Group in a report on Thursday, May 14th. Sanford C. Bernstein reiterated an “outperform” rating on shares of SoftBank Group in a report on Wednesday, June 17th. Jefferies Financial Group cut SoftBank Group from a “hold” rating to an “underperform” rating in a research note on Thursday, March 12th. Deutsche Bank Aktiengesellschaft cut SoftBank Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Cantor Fitzgerald initiated coverage on SoftBank Group in a research report on Monday, March 9th. They set an “overweight” rating for the company. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold”.
Check Out Our Latest Stock Report on SoftBank Group
SoftBank Group Trading Down 9.5%
The company has a debt-to-equity ratio of 0.85, a current ratio of 0.80 and a quick ratio of 0.78. The stock’s 50 day moving average is $19.74 and its 200-day moving average is $15.51. The company has a market capitalization of $229.84 billion, a P/E ratio of 6.94 and a beta of 1.79.
SoftBank Group (OTCMKTS:SFTBY – Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The technology company reported $1.02 earnings per share 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 analysts’ expectations of $12.54 billion. As a group, equities research analysts anticipate that SoftBank Group Corp. Unsponsored ADR will post 0.02 earnings per share 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.