Rakuten (OTCMKTS:RKUNY) Sees Strong Trading Volume - Here's Why

Key Points

• Rakuten, Inc. saw a significant increase in trading volume, with shares trading at 46,046, up 92% from the previous day's volume.
• Analysts have mixed views on Rakuten, with CLSA upgrading the stock to a "strong-buy" rating while Nomura Securities rated it as a "hold."
• Despite reporting a revenue of $4.04 billion, Rakuten's quarterly earnings missed estimates, resulting in a loss of ($0.16) EPS compared to expectations of $0.04.

Rakuten, Inc. (OTCMKTS:RKUNY - Get Free Report) shares saw an uptick in trading volume on Monday . 46,046 shares changed hands during mid-day trading, an increase of 92% from the previous session's volume of 23,973 shares.The stock last traded at $6.12 and had previously closed at $6.16.

Analysts Set New Price Targets

A number of research firms recently commented on RKUNY. CLSA raised shares of Rakuten to a "strong-buy" rating in a research note on Thursday, May 29th. Nomura Securities raised shares of Rakuten from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Strong Buy".

Rakuten Stock Up 1.7%

The firm has a market cap of $13.33 billion, a P/E ratio of -9.48 and a beta of 1.04. The business's fifty day moving average price is $5.49 and its two-hundred day moving average price is $5.70. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.62.

Rakuten (OTCMKTS:RKUNY - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported ($0.16) earnings per share 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 the consensus estimate 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, equities research analysts anticipate that Rakuten, Inc. will post 0.06 EPS 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.