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

Tencent Holding Ltd. (OTCMKTS:TCEHY) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $75.46 and traded as high as $77.05. Tencent shares last traded at $76.98, with a volume of 1,671,461 shares trading hands.

Wall Street Analyst Weigh In

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

Tencent Trading Down 0.2%

The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $80.64 and its two-hundred day moving average is $75.46. The stock has a market cap of $703.97 billion, a price-to-earnings ratio of 23.69 and a beta of 0.21.

Tencent (OTCMKTS:TCEHY) last posted its earnings results on Thursday, November 13th. The technology company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.02 by $0.05. The company had revenue of $27.18 billion during the quarter, compared to analyst estimates of $26.32 billion. Tencent had a return on equity of 19.47% and a net margin of 29.87%. Equities analysts anticipate that Tencent Holding Ltd. will post 2.74 EPS for the current year.

About Tencent

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.