Tencent (OTCMKTS:TCEHY) Shares Gap Up – Should You Buy?

Tencent Holding Ltd. (OTCMKTS:TCEHY)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $67.00, but opened at $70.48. Tencent shares last traded at $73.12, with a volume of 3,217,577 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays restated an “overweight” rating and set a $102.00 target price on shares of Tencent in a research report on Friday, November 14th. Zacks Research raised shares of Tencent from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 20th. Finally, Erste Group Bank cut Tencent from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $102.00.

Tencent Trading Up 10.2%

The company has a market cap of $672.50 billion, a PE ratio of 22.72 and a beta of 0.30. The stock’s 50 day moving average is $73.24 and its 200-day moving average is $78.05. The company has a quick ratio of 1.35, a current ratio of 1.36 and a debt-to-equity ratio of 0.26.

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.