Rakuten (OTCMKTS:RKUNY) Shares Gap Down – What’s Next?

Shares of Rakuten, Inc. (OTCMKTS:RKUNY) gapped down before the market opened on Wednesday . The stock had previously closed at $5.14, but opened at $4.92. Rakuten shares last traded at $5.1150, with a volume of 52,392 shares.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Rakuten from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy”.

Rakuten Price Performance

The business’s 50 day moving average is $4.90 and its two-hundred day moving average is $5.65. The firm has a market capitalization of $11.05 billion, a PE ratio of -13.74 and a beta of 1.15. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.16 and a current ratio of 1.16.

Rakuten (OTCMKTS:RKUNY) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.92 billion. Rakuten had a negative net margin of 4.83% and a negative return on equity of 9.99%. Equities research analysts anticipate that Rakuten, Inc. will post -0.07 earnings per share for the current fiscal year.

About Rakuten

Rakuten, Inc is a diversified internet services company based in Tokyo, Japan, and founded in 1997 by Hiroshi Mikitani, who continues to serve as chairman and chief executive officer. Originally established as an online marketplace, Rakuten has expanded its reach to become a global technology group offering a wide range of digital services and consumer-facing platforms. The company is listed in Japan but its American depositary receipts trade over the counter under the symbol RKUNY.

At the core of Rakuten’s business is its e-commerce marketplace, Rakuten Ichiba, which hosts millions of merchants and serves tens of millions of customers across Japan and other key markets.