SoftBank Group (OTCMKTS:SFTBY) Shares Gap Up - Here's Why

Key Points

• SoftBank Group's shares saw a significant gap up from $69.27 to $73.65 in initial trading on Wednesday, with last trading at $73.06.
• New Street Research downgraded SoftBank Group from a "buy" to a "neutral" rating, leading to an average rating of "Hold" among analysts.
• The company reported strong quarterly earnings, with EPS of $1.02, beating estimates by $0.74 and achieving revenue of $12.35 billion.

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $69.27, but opened at $73.65. SoftBank Group shares last traded at $73.06, with a volume of 83,218 shares traded.

Wall Street Analysts Forecast Growth

Separately, New Street Research cut SoftBank Group from a "buy" rating to a "neutral" rating in a report on Thursday, September 25th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, SoftBank Group presently has an average rating of "Hold".

SoftBank Group Trading Up 5.7%

The company has a market cap of $215.25 billion, a P/E ratio of 18.08 and a beta of 1.31. The business has a fifty day moving average price of $58.04 and a 200-day moving average price of $39.47. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 0.99.

SoftBank Group (OTCMKTS:SFTBY - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.74. SoftBank Group had a return on equity of 12.80% and a net margin of 23.99%.The company had revenue of $12.35 billion during the quarter, compared to analysts' expectations of $12.24 billion. On average, analysts forecast that SoftBank Group Corp. Unsponsored ADR will post 2.22 earnings per share for the current year.

SoftBank Group Company Profile

SoftBank Group Corp. provides telecommunication services in Japan and internationally. It operates through Investment Business of Holding Companies, SoftBank Vision Funds, SoftBank, Arm, and Other segments. The company offers mobile communications and solutions to enterprise customers, and broadband services to retail customers; and sells mobile devices and software tools, as well as related services.

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