SoftBank Group (OTCMKTS:SFTBY) Trading 9.7% Higher – Here’s What Happened
by Teresa Graham · The Cerbat GemSoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY – Get Free Report) shares shot up 9.7% during mid-day trading on Wednesday . The company traded as high as $17.80 and last traded at $17.77. 517,267 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 2,315,971 shares. The stock had previously closed at $16.20.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on SFTBY shares. TD Cowen raised shares of SoftBank Group to a “hold” rating in a research note on Wednesday, April 1st. Jefferies Financial Group lowered shares of SoftBank Group from a “hold” rating to an “underperform” rating in a report on Thursday, March 12th. Zacks Research upgraded SoftBank Group to a “hold” rating in a research note on Tuesday, March 10th. Cantor Fitzgerald started coverage on SoftBank Group in a report on Monday, March 9th. They set an “overweight” rating for the company. Finally, BTIG Research began coverage on SoftBank Group in a research note on Monday, January 5th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.
Get Our Latest Research Report on SoftBank Group
SoftBank Group Trading Up 11.4%
The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.81. The firm’s fifty day moving average is $12.72 and its two-hundred day moving average is $14.55. The firm has a market capitalization of $206.20 billion, a PE ratio of 8.33 and a beta of 1.50.
SoftBank Group (OTCMKTS:SFTBY – Get Free Report) last posted its earnings results on Thursday, February 12th. The technology company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04. The firm had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $12.44 billion. SoftBank Group had a net margin of 48.62% and a return on equity of 23.66%. On average, equities analysts predict that SoftBank Group Corp. Unsponsored ADR will post 2.78 EPS for the current fiscal year.
SoftBank Group Company Profile
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.