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

Shares of Prosus N.V. Sponsored ADR (OTCMKTS:PROSY) reached a new 52-week low during trading on Tuesday. The stock traded as low as $7.79 and last traded at $7.98, with a volume of 1289429 shares trading hands. The stock had previously closed at $7.82.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PROSY. Morgan Stanley restated an “overweight” rating on shares of Prosus in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Prosus in a research report on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.10.

Prosus Price Performance

The firm’s 50-day simple moving average is $8.65 and its 200-day simple moving average is $9.02.

About Prosus

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

Its portfolio has included businesses such as iFood, a food-delivery platform in Latin America; OLX, an online classifieds marketplace operating across multiple international markets; and PayU, a digital payments and financial-services platform.