Bilibili (NASDAQ:BILI) Price Target Raised to $24.00

Bilibili (NASDAQ:BILI) had its target price raised by Benchmark from $16.00 to $24.00 in a report published on Friday,Benzinga reports. Benchmark currently has a buy rating on the stock.

A number of other research firms have also recently commented on BILI. Nomura upgraded shares of Bilibili from a “neutral” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Thursday, August 22nd. Bank of America increased their price target on Bilibili from $19.00 to $22.50 and gave the stock a “buy” rating in a research report on Friday, October 25th. Nomura Securities raised shares of Bilibili from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 22nd. Sanford C. Bernstein boosted their price target on shares of Bilibili from $12.00 to $13.00 and gave the company a “market perform” rating in a report on Friday, August 23rd. Finally, Daiwa Capital Markets raised shares of Bilibili from a “neutral” rating to a “buy” rating in a report on Friday, November 8th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Bilibili currently has an average rating of “Moderate Buy” and a consensus target price of $19.24.

Bilibili Price Performance

NASDAQ:BILI opened at $18.30 on Friday. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of -19.89 and a beta of 0.86. The business has a 50 day simple moving average of $20.63 and a 200-day simple moving average of $17.02. Bilibili has a 1 year low of $8.80 and a 1 year high of $31.77.

Bilibili (NASDAQ:BILI) last announced its earnings results on Thursday, November 14th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.47. Bilibili had a negative net margin of 10.73% and a negative return on equity of 15.10%. The business had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.14 billion. During the same quarter in the prior year, the firm posted ($0.39) earnings per share. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. As a group, analysts expect that Bilibili will post -0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bilibili

Several hedge funds have recently bought and sold shares of the stock. First Beijing Investment Ltd grew its position in Bilibili by 96.2% during the third quarter. First Beijing Investment Ltd now owns 3,793,582 shares of the company’s stock valued at $88,694,000 after buying an additional 1,860,496 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Bilibili by 422.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,256,058 shares of the company’s stock worth $52,747,000 after buying an additional 1,823,829 shares during the period. Quarry LP purchased a new position in shares of Bilibili during the 2nd quarter valued at approximately $29,336,000. Jennison Associates LLC increased its holdings in Bilibili by 208.4% in the 3rd quarter. Jennison Associates LLC now owns 1,807,524 shares of the company’s stock worth $42,260,000 after acquiring an additional 1,221,433 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in Bilibili by 14,710.1% during the third quarter. Two Sigma Advisers LP now owns 1,762,400 shares of the company’s stock worth $41,205,000 after acquiring an additional 1,750,500 shares during the period. Hedge funds and other institutional investors own 16.08% of the company’s stock.

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.