Sony Group (NYSE:SONY) Shares Gap Up – Should You Buy?

Sony Group Co. (NYSE:SONY)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $22.97, but opened at $23.52. Sony Group shares last traded at $23.02, with a volume of 1,474,922 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wolfe Research reiterated a “peer perform” rating on shares of Sony Group in a research note on Monday. StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Oppenheimer reissued an “outperform” rating and issued a $33.00 price objective (up from $25.00) on shares of Sony Group in a report on Thursday, February 20th. Sanford C. Bernstein initiated coverage on Sony Group in a report on Thursday, January 16th. They set an “outperform” rating for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Sony Group in a report on Tuesday, March 25th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sony Group currently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Sony Group Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.49 and a current ratio of 0.66. The firm has a market cap of $134.46 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 9.95 and a beta of 0.94. The stock has a 50 day simple moving average of $23.91 and a two-hundred day simple moving average of $20.84.

Sony Group (NYSE:SONY) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.14. The company had revenue of $28.95 billion during the quarter, compared to the consensus estimate of $24.32 billion. Sony Group had a return on equity of 14.10% and a net margin of 8.21%. Sell-side analysts expect that Sony Group Co. will post 1.23 earnings per share for the current year.

Institutional Trading of Sony Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SONY. Silicon Valley Capital Partners grew its position in shares of Sony Group by 401.3% during the 4th quarter. Silicon Valley Capital Partners now owns 1,158 shares of the company’s stock valued at $25,000 after acquiring an additional 927 shares during the period. Capital Analysts LLC boosted its position in Sony Group by 400.0% during the fourth quarter. Capital Analysts LLC now owns 1,170 shares of the company’s stock worth $25,000 after purchasing an additional 936 shares in the last quarter. General Partner Inc. boosted its position in Sony Group by 400.0% during the fourth quarter. General Partner Inc. now owns 1,245 shares of the company’s stock worth $26,000 after purchasing an additional 996 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Sony Group in the fourth quarter valued at approximately $26,000. Finally, Fairscale Capital LLC raised its stake in shares of Sony Group by 400.0% during the 4th quarter. Fairscale Capital LLC now owns 1,240 shares of the company’s stock worth $26,000 after buying an additional 992 shares during the period. Institutional investors and hedge funds own 14.05% of the company’s stock.

Sony Group Company Profile

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.