Tencent (OTCMKTS:TCEHY) Shares Cross Above Two Hundred Day Moving Average of $79.34

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Tencent Holdings Limited (OTCMKTS:TCEHY)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $79.34 and traded as high as $84.98. Tencent shares last traded at $84.65, with a volume of 2,136,100 shares trading hands.

A number of research analysts recently weighed in on TCEHY shares. Morgan Stanley started coverage on Tencent in a report on Wednesday, February 3rd. They set a “buy” rating and a $92.87 price objective on the stock. Investec lowered Tencent from a “hold” rating to a “sell” rating in a report on Friday, January 22nd. Zacks Investment Research raised Tencent from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a report on Wednesday. Barclays upped their price objective on Tencent from $89.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, February 16th. Finally, Mizuho reiterated a “buy” rating on shares of Tencent in a research report on Monday, March 22nd. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $86.46.

The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.43. The firm has a market cap of $750.37 billion, a price-to-earnings ratio of 43.24 and a beta of 0.63. The business has a 50 day moving average price of $85.58 and a 200-day moving average price of $79.43.

About Tencent (OTCMKTS:TCEHY)

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

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