Bilibili (NASDAQ:BILI) Shares Gap Up – Still a Buy?

Bilibili Inc. (NASDAQ:BILI) gapped up before the market opened on Friday . The stock had previously closed at $19.46, but opened at $21.17. Bilibili shares last traded at $20.66, with a volume of 2,850,892 shares traded.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BILI. The Goldman Sachs Group raised Bilibili from a “neutral” rating to a “buy” rating and increased their target price for the stock from $16.50 to $22.60 in a research note on Thursday, September 26th. Nomura raised Bilibili from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a report on Thursday, August 22nd. Daiwa Capital Markets lowered shares of Bilibili from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 3rd. Morgan Stanley began coverage on shares of Bilibili in a report on Wednesday, September 25th. They issued an “equal weight” rating and a $20.00 price target for the company. Finally, Daiwa America downgraded shares of Bilibili from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Bilibili presently has an average rating of “Moderate Buy” and a consensus target price of $17.83.

Bilibili Price Performance

The firm’s 50-day moving average price is $17.74 and its 200 day moving average price is $15.66. The firm has a market capitalization of $8.32 billion, a price-to-earnings ratio of -12.07 and a beta of 0.86.

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

Institutional Investors Weigh In On Bilibili

Several hedge funds have recently modified their holdings of the company. SIH Partners LLLP raised its position in shares of Bilibili by 145.9% in the second quarter. SIH Partners LLLP now owns 1,195,420 shares of the company’s stock valued at $18,457,000 after buying an additional 709,200 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Bilibili by 62.6% during the 1st quarter. BNP Paribas Financial Markets now owns 310,999 shares of the company’s stock worth $3,483,000 after purchasing an additional 119,747 shares during the period. Natixis acquired a new stake in shares of Bilibili during the first quarter worth $537,000. Janney Montgomery Scott LLC purchased a new stake in shares of Bilibili in the first quarter valued at $951,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Bilibili in the first quarter valued at $460,000. 16.08% of the stock is owned by institutional investors and hedge funds.

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.