Zacks Investment Research downgraded shares of Rakuten Inc (NASDAQ:RKUNY) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “Rakuten, Inc. engages in the internet services business. Its operating segments consist of Internet Services, FinTech and Others. Internet Services segment manages e-commerce, online cash-back, travel booking, and portal and digital content sites. FinTech segment provides services over the internet related to banking and securities, credit cards, life insurance and electronic money. Others segment includes the provision of messaging and communication services and management of a Japanese professional baseball team. Rakuten, Inc. is headquartered in Tokyo, Japan. “

Shares of Rakuten Inc (RKUNY) opened at 12.36 on Wednesday. Rakuten Inc has a 1-year low of $9.19 and a 1-year high of $13.97. The firm has a market cap of $17.57 billion and a PE ratio of 38.75. The company’s 50-day moving average price is $12.08 and its 200 day moving average price is $10.84.

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