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

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) shares gapped down prior to trading 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.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SFTBY. Deutsche Bank Aktiengesellschaft lowered SoftBank Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Jefferies Financial Group lowered shares of SoftBank Group from a “hold” rating to an “underperform” rating in a research note on Thursday, March 12th. Zacks Research raised shares of SoftBank Group to a “hold” rating in a research report on Tuesday, March 10th. Cantor Fitzgerald initiated coverage on shares of SoftBank Group in a research note on Monday, March 9th. They set an “overweight” rating on the stock. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of SoftBank Group in a report on Wednesday, June 17th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

SoftBank Group Stock Down 9.5%

The company’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 PE ratio of 6.94 and a beta of 1.79. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.78 and a current ratio of 0.80.

SoftBank Group (OTCMKTS:SFTBY) last issued its earnings results on Wednesday, May 13th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.86. The business had revenue of $13.17 billion during the quarter, compared to analysts’ expectations of $12.54 billion. SoftBank Group had a net margin of 64.12% and a return on equity of 28.68%. As a group, analysts anticipate 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.