Tencent (OTCMKTS:TCEHY) Shares Gap Up – Time to Buy?

Tencent Holding Ltd. (OTCMKTS:TCEHY) shares gapped up prior to trading 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 research analysts have recently weighed in on the company. Zacks Research upgraded Tencent from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 20th. Erste Group Bank downgraded Tencent from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Finally, Barclays restated an “overweight” rating and set a $102.00 price objective on shares of Tencent in a research report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $102.00.

Tencent Stock Down 3.8%

The company has a debt-to-equity ratio of 0.26, a current ratio of 1.36 and a quick ratio of 1.35. The business has a 50 day moving average price of $73.07 and a 200 day moving average price of $77.97. The firm has a market capitalization of $648.01 billion, a P/E ratio of 21.90 and a beta of 0.30.

About Tencent

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.