Tencent Holding Ltd. (OTCMKTS:TCEHY – Get Free Report)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $59.12, but opened at $56.28. Tencent shares last traded at $55.86, with a volume of 109,047 shares traded.
Analyst Ratings Changes
Separately, Barclays restated an “overweight” rating and set a $106.00 price target on shares of Tencent in a research note on Thursday, May 14th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.
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Tencent Stock Down 0.1%
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.
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