Bilibili (NASDAQ:BILI) Shares Gap Up on Analyst Upgrade

Bilibili Inc. (NASDAQ:BILI)’s share price gapped up before the market opened on Monday after Bank of America raised their price target on the stock from $19.00 to $22.50. The stock had previously closed at $20.65, but opened at $21.47. Bank of America currently has a buy rating on the stock. Bilibili shares last traded at $21.84, with a volume of 886,694 shares changing hands.

BILI has been the subject of several other research reports. Sanford C. Bernstein increased their price objective on shares of Bilibili from $12.00 to $13.00 and gave the company a “market perform” rating in a research report on Friday, August 23rd. Nomura Securities raised Bilibili from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 22nd. Daiwa Capital Markets downgraded shares of Bilibili from an “outperform” rating to a “neutral” rating in a research note on Thursday, October 3rd. Nomura upgraded Bilibili from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Thursday, August 22nd. Finally, The Goldman Sachs Group upgraded shares of Bilibili from a “neutral” rating to a “buy” rating and boosted their price target for the company from $16.50 to $22.60 in a report on Thursday, September 26th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.15.

Hedge Funds Weigh In On Bilibili

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC grew its position in Bilibili by 6.5% during the 3rd quarter. Signaturefd LLC now owns 9,731 shares of the company’s stock worth $228,000 after purchasing an additional 598 shares during the last quarter. CWM LLC lifted its stake in shares of Bilibili by 61.9% during the second quarter. CWM LLC now owns 2,232 shares of the company’s stock worth $34,000 after buying an additional 853 shares during the period. Blue Trust Inc. grew its holdings in shares of Bilibili by 227.3% during the third quarter. Blue Trust Inc. now owns 1,283 shares of the company’s stock valued at $30,000 after buying an additional 891 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Bilibili by 4.9% during the second quarter. SG Americas Securities LLC now owns 33,711 shares of the company’s stock valued at $520,000 after buying an additional 1,569 shares during the last quarter. Finally, Creative Planning increased its position in shares of Bilibili by 6.7% in the 2nd quarter. Creative Planning now owns 25,819 shares of the company’s stock valued at $399,000 after acquiring an additional 1,632 shares during the period. 16.08% of the stock is owned by hedge funds and other institutional investors.

Bilibili Stock Performance

The stock has a 50 day moving average of $18.58 and a 200-day moving average of $16.08. The company has a market cap of $9.06 billion, a PE ratio of -13.61 and a beta of 0.86.

Bilibili (NASDAQ:BILI) last announced its quarterly earnings data on Thursday, August 22nd. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.55). The firm had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $6.10 billion. Bilibili had a negative return on equity of 22.44% and a negative net margin of 16.71%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.43) earnings per share. Equities research analysts forecast that Bilibili Inc. will post -0.37 EPS for the current year.

Bilibili Company Profile

Bilibili Inc provides online entertainment services for the young generations in the People's Republic of China. It offers a range of digital content, including professional user generated videos, mobile games, and value-added services, such as live broadcasting, occupationally generated videos, audio drama on Maoer, and comics on Bilibili Comic.