Tencent (OTCMKTS:TCEHY) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Tencent Holding Ltd. (OTCMKTS:TCEHY) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $76.96 and traded as high as $79.03. Tencent shares last traded at $78.94, with a volume of 1,149,735 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TCEHY shares. Barclays reaffirmed an “overweight” rating and issued a $102.00 target price on shares of Tencent in a research note on Friday, November 14th. Erste Group Bank raised shares of Tencent from a “hold” rating to a “buy” rating in a report on Monday, November 10th. Zacks Research raised Tencent from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 20th. Finally, Itau BBA Securities assumed coverage on Tencent in a research report on Tuesday, October 7th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $102.00.

Tencent Trading Down 0.0%

The business has a 50-day simple moving average of $79.26 and a two-hundred day simple moving average of $76.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.35 and a current ratio of 1.36. The stock has a market cap of $720.77 billion, a price-to-earnings ratio of 24.29 and a beta of 0.22.

Tencent (OTCMKTS:TCEHY) last issued its quarterly earnings results on Thursday, November 13th. The technology company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.05. The firm had revenue of $27.18 billion for the quarter, compared to analyst estimates of $26.32 billion. Tencent had a net margin of 29.87% and a return on equity of 18.85%. As a group, research analysts forecast that Tencent Holding Ltd. will post 2.74 EPS for the current year.

Tencent Company Profile

Tencent Holdings Limited is a Chinese multinational technology conglomerate headquartered in Shenzhen, Guangdong. Founded in 1998, the company grew from early instant-messaging products into a diversified internet services group and is listed on the Hong Kong Stock Exchange. Tencent’s businesses span consumer-facing applications, digital content, cloud services and financial technology, supported by a broad investment program in global technology and gaming companies.

At the consumer level Tencent operates major social and communication platforms such as QQ and WeChat (Weixin), which combine messaging, social networking, mobile payments and a wide range of mini-programs and services.