Tencent (OTCMKTS:TCEHY) Stock Price Crosses Above 200-Day Moving Average of $37.98

Tencent Holdings Limited (OTCMKTS:TCEHY)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $37.98 and traded as high as $41.12. Tencent shares last traded at $41.02, with a volume of 3,855,136 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Barclays reduced their target price on shares of Tencent from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st.

Tencent Stock Performance

The business’s 50 day moving average price is $37.37 and its two-hundred day moving average price is $37.98. The company has a market capitalization of $387.45 billion, a price-to-earnings ratio of 24.56 and a beta of 0.32.

Tencent (OTCMKTS:TCEHY) last issued its quarterly earnings results on Wednesday, March 20th. The technology company reported $0.52 earnings per share for the quarter. The company had revenue of $21.54 billion during the quarter. Tencent had a net margin of 18.88% and a return on equity of 14.60%. On average, sell-side analysts expect that Tencent Holdings Limited will post 2.68 earnings per share for the current year.

Tencent Company Profile

Tencent Holdings Limited, an investment holding company, offers value-added services (VAS), online advertising, fintech, and business services in the People's Republic of China and internationally. It operates through VAS, Online Advertising, FinTech and Business Services, and Others segments. The company's consumers business provides communication and services, such as instant messaging and social network; digital content including online games, videos, live streaming, news, music, and literature; fintech services, which includes mobile payment, wealth management, loans, and securities trading; and various tools, such as network security management, browser, navigation, application management, email, etc.