Prosus (OTCMKTS:PROSY) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Prosus N.V. Sponsored ADR (OTCMKTS:PROSY) shares passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $8.15 and traded as high as $8.33. Prosus shares last traded at $8.23, with a volume of 1,515,562 shares traded.

Analysts Set New Price Targets

PROSY has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Prosus in a report on Thursday, July 23rd. Zacks Research lowered Prosus from a “hold” rating to a “strong sell” rating in a report on Monday, October 12th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.10.

Prosus Price Performance

The business’s 50 day moving average is $8.15 and its 200 day moving average is $9.28.

About Prosus

Prosus N.V. is a global consumer internet group and technology investor headquartered in the Netherlands. It is a subsidiary of Naspers and focuses on building and investing in businesses that serve large consumer markets through digital platforms and online services.

The company’s activities include food delivery, online classifieds, payments and fintech, education technology, and other internet-based services. Its portfolio has included businesses such as iFood, OLX, PayU and other consumer technology platforms, while its investment activities have also included holdings in major global technology companies.

Prosus operates and invests across a range of geographies, including Europe, India, Latin America, Africa and Southeast Asia.