Tencent (OTCMKTS:TCEHY) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Tencent shares have recently traded above their 200-day moving average, indicating positive momentum, with a closing price of $77.59 and a volume of over 2 million shares.
• Barclays has maintained an "overweight" rating on Tencent, with an average analyst rating of "Strong Buy" and a target price of $88.00.
• The company's financial health shows a market cap of $711.55 billion, a PE ratio of 25.11, and a low debt-to-equity ratio of 0.30.

Tencent Holding Ltd. (OTCMKTS:TCEHY - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $65.58 and traded as high as $77.85. Tencent shares last traded at $77.59, with a volume of 2,052,668 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Barclays restated an "overweight" rating on shares of Tencent in a report on Thursday, May 15th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat, Tencent has an average rating of "Strong Buy" and a consensus price target of $88.00.

Tencent Stock Performance

The firm's fifty day moving average price is $70.57 and its 200 day moving average price is $66.07. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $698.85 billion, a PE ratio of 24.66 and a beta of 0.11.

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.