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

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY)’s stock price 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 changing hands.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group raised SoftBank Group from an “underperform” rating to a “hold” rating in a research note on Wednesday, October 28th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

SoftBank Group Trading Up 13.1%

The firm has a market capitalization of $145.54 billion, a PE ratio of 4.50 and a beta of 2.07. The firm has a 50 day simple moving average of $17.25 and a 200 day simple moving average of $16.70. 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 results on Tuesday, November 10th. The technology company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.55). The business had revenue of $13.96 billion during the quarter, compared to analysts’ expectations of $12.68 billion. SoftBank Group had a return on equity of 26.14% and a net margin of 62.60%. Equities 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.