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

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $19.71, but opened at $18.34. SoftBank Group shares last traded at $18.4002, with a volume of 865,728 shares.

Wall Street Analysts Forecast Growth

SFTBY has been the topic of several research analyst reports. Jefferies Financial Group cut SoftBank Group from a “hold” rating to an “underperform” rating in a research report on Thursday, March 12th. Cantor Fitzgerald initiated coverage on SoftBank Group in a report on Monday, March 9th. They set an “overweight” rating on the stock. Sanford C. Bernstein restated an “outperform” rating on shares of SoftBank Group in a research report on Wednesday, June 17th. Zacks Research upgraded shares of SoftBank Group to a “hold” rating in a report on Tuesday, March 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of SoftBank Group from a “hold” rating to a “buy” rating in a report on Friday. Five equities research 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. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

SoftBank Group Trading Down 5.6%

The firm has a market cap of $212.60 billion, a price-to-earnings ratio of 6.42 and a beta of 1.79. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average price of $20.32 and a 200 day moving average price of $15.66.

SoftBank Group (OTCMKTS:SFTBY) last posted its quarterly earnings results on Wednesday, May 13th. The technology company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.16 by $0.86. SoftBank Group had a net margin of 64.12% and a return on equity of 28.68%. The business had revenue of $13.17 billion during the quarter, compared to analysts’ expectations of $12.54 billion. As a group, research analysts anticipate that SoftBank Group Corp. Unsponsored ADR will post 0.02 earnings per share 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.