Prosus (OTCMKTS:PROSY) Hits New 52-Week Low – What’s Next?

Prosus N.V. Sponsored ADR (OTCMKTS:PROSY) shares reached a new 52-week low on Wednesday . The stock traded as low as $8.15 and last traded at $8.1795, with a volume of 642359 shares traded. The stock had previously closed at $8.40.

Analysts Set New Price Targets

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

Prosus Price Performance

The business has a 50 day simple moving average of $8.86 and a 200 day simple moving average of $9.22.

Prosus Company Profile

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.