Prosus (OTCMKTS:PROSY) Shares Gap Up – Here’s Why

Prosus N.V. Sponsored ADR (OTCMKTS:PROSY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $8.36, but opened at $8.81. Prosus shares last traded at $8.7280, with a volume of 148,462 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PROSY. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Prosus in a research report on Thursday, July 23rd. The Goldman Sachs Group began coverage on shares of Prosus in a research note on Thursday, June 4th. They set a “neutral” rating for the company. Finally, Morgan Stanley reissued an “overweight” rating on shares of Prosus in a research report on Tuesday, June 30th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Prosus presently has an average rating of “Moderate Buy” and an average target price of $11.10.

Prosus Price Performance

The business’s fifty day simple moving average is $8.83 and its 200 day simple moving average is $9.20.

About Prosus

Prosus N.V. is a global consumer internet and technology group headquartered in Amsterdam, the Netherlands. The company develops, operates and invests in technology businesses serving consumers and businesses through digital platforms, with activities spanning online classifieds, food delivery, payments and fintech, education technology, travel and other internet services.

Prosus’s portfolio has included businesses such as OLX, an online classifieds platform, and iFood, a food-delivery service operating in Latin America.