Tencent (OTCMKTS:TCEHY) Stock Crosses Above 200-Day Moving Average – What’s Next?

Tencent Holdings Limited (OTCMKTS:TCEHY) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $55.84 and traded as high as $64.93. Tencent shares last traded at $64.02, with a volume of 1,278,871 shares changing hands.

Analysts Set New Price Targets

Separately, Barclays restated an “overweight” rating and set a $88.00 price objective on shares of Tencent in a research report on Thursday, March 20th.

Tencent Stock Down 0.9 %

The firm has a market cap of $588.80 billion, a P/E ratio of 33.69 and a beta of 0.16. The company’s 50-day simple moving average is $61.55 and its 200 day simple moving average is $55.84. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.35 and a quick ratio of 1.33.

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.