Tencent Music Entertainment Group TME was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend for the company—as the stock is now down 7.5% in the past one-month time frame.
The company has seen two positive estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for Tencent Music. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Tencent Music currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
Tencent Music Entertainment Group Sponsored ADR Price
Tencent Music Entertainment Group Sponsored ADR price | Tencent Music Entertainment Group Sponsored ADR Quote
A better-ranked stock in the Internet – Content industry is TechTarget, Inc. TTGT, which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is TME going up? Or down? Predict to see what others think: Up or Down
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
TechTarget, Inc. (TTGT) : Free Stock Analysis Report
Tencent Music Entertainment Group Sponsored ADR (TME) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research