Rakuten (OTCMKTS:RKUNY) Upgraded at Nomura Securities

Key Points

• Nomura Securities upgraded Rakuten from a "hold" rating to a "strong-buy" rating, indicating increased confidence among analysts.
• Rakuten currently has an average rating of "Strong Buy," with two analysts also supporting this upgrade.
• Despite reporting a quarterly loss of ($0.16) EPS, Rakuten's revenue of $4.04 billion exceeded expectations, highlighting potential despite short-term challenges.

Nomura Securities upgraded shares of Rakuten (OTCMKTS:RKUNY - Free Report) from a hold rating to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

Separately, CLSA raised shares of Rakuten to a "strong-buy" rating in a research note on Thursday, May 29th. Two analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Strong Buy".

Rakuten Price Performance

Shares of OTCMKTS:RKUNY traded up $0.10 during midday trading on Tuesday, reaching $6.16. 17,055 shares of the company were exchanged, compared to its average volume of 18,471. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.62. The business's fifty day moving average is $5.51 and its two-hundred day moving average is $5.68. Rakuten has a one year low of $4.80 and a one year high of $7.27. The stock has a market cap of $13.34 billion, a PE ratio of -9.48 and a beta of 1.09.

Rakuten (OTCMKTS:RKUNY - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.20). The business had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $3.83 billion. Rakuten had a negative net margin of 8.85% and a negative return on equity of 19.13%. As a group, analysts predict that Rakuten will post 0.06 earnings per share for the current year.

Rakuten Company Profile

Rakuten Group, Inc provides services in e-commerce, fintech, digital content, and communications to various users in Japan and internationally. The company operates through three segments: Internet Services, FinTech, and Mobile. The Internet Services segment provides range of e-commerce sites, such as Rakuten Ichiba, an Internet shopping mall, online cash-back sites, travel booking sites, portal sites, and digital content sites.