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

Bilibili Inc. (NASDAQ:BILI) shares gapped up prior to trading 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 trading hands.

Other equities research analysts have also recently issued reports about the stock. Daiwa Capital Markets cut shares of Bilibili from an “outperform” rating to a “neutral” rating in a report on Thursday, October 3rd. Nomura Securities raised shares of Bilibili from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 22nd. Daiwa America cut shares of Bilibili from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. The Goldman Sachs Group raised shares of Bilibili from a “neutral” rating to a “buy” rating and upped their target price for the company from $16.50 to $22.60 in a report on Thursday, September 26th. Finally, Morgan Stanley initiated coverage on shares of Bilibili in a report on Wednesday, September 25th. They issued an “equal weight” rating and a $20.00 target price for the company. Five investment 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.15.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BILI. International Assets Investment Management LLC acquired a new stake in shares of Bilibili in the third quarter valued at approximately $9,570,000. Signaturefd LLC boosted its position in Bilibili by 6.5% during the third quarter. Signaturefd LLC now owns 9,731 shares of the company’s stock worth $228,000 after acquiring an additional 598 shares during the last quarter. Blue Trust Inc. raised its stake in Bilibili by 227.3% during the third quarter. Blue Trust Inc. now owns 1,283 shares of the company’s stock worth $30,000 after purchasing an additional 891 shares during the period. SG Americas Securities LLC raised its stake in Bilibili by 34.7% during the third quarter. SG Americas Securities LLC now owns 45,416 shares of the company’s stock worth $1,062,000 after purchasing an additional 11,705 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Bilibili during the second quarter worth approximately $7,799,000. 16.08% of the stock is currently owned by institutional investors and hedge funds.

Bilibili Stock Up 6.5 %

The company has a market cap of $9.09 billion, a PE ratio of -13.08 and a beta of 0.86. The stock’s 50 day simple moving average is $18.42 and its two-hundred day simple moving average is $15.98.

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

About Bilibili

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.