Tencent (OTCMKTS:TCEHY) Share Price Crosses Above 200 Day Moving Average of $38.24

Tencent Holdings Limited (OTCMKTS:TCEHY – Get Rating) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $38.24 and traded as high as $46.88. Tencent shares last traded at $46.47, with a volume of 5,857,387 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TCEHY shares. Mizuho raised their price target on shares of Tencent from $300.00 to $330.00 in a research note on Thursday, January 5th. Barclays dropped their price objective on shares of Tencent from $44.00 to $31.00 in a report on Friday, October 28th. Finally, KGI Securities lowered shares of Tencent from an “outperform” rating to a “neutral” rating in a report on Monday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Tencent presently has an average rating of “Hold” and a consensus target price of $180.50.

Tencent Stock Performance

The business’s fifty day moving average is $39.27 and its 200-day moving average is $38.24. The firm has a market cap of $444.66 billion, a P/E ratio of 16.72 and a beta of 0.29.

Tencent (OTCMKTS:TCEHY – Get Rating) last issued its quarterly earnings data on Wednesday, November 16th. The technology company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. Tencent had a net margin of 32.16% and a return on equity of 8.93%. The business had revenue of $19.73 billion during the quarter, compared to analyst estimates of $20.32 billion. Analysts predict that Tencent Holdings Limited will post 1.29 EPS for the current fiscal year.

About Tencent

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Tencent Holdings Limited, an investment holding company, provides value-added services (VAS) and Online advertising services in Mainland China and internationally. The company operates through VAS, Online Advertising, FinTech and Business Services, and Others segments. It offers online games and social network services; FinTech and cloud services, and online advertising services.