Bilibili (NASDAQ:BILI) Shares Gap Up to $13.66

Bilibili Inc. (NASDAQ:BILI) shares gapped up prior to trading on Thursday . The stock had previously closed at $13.66, but opened at $14.35. Bilibili shares last traded at $14.23, with a volume of 608,148 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have commented on BILI shares. JPMorgan Chase & Co. raised shares of Bilibili from a “neutral” rating to an “overweight” rating and set a $21.00 target price on the stock in a research note on Tuesday, June 18th. Daiwa Capital Markets upgraded shares of Bilibili from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 22nd. Sanford C. Bernstein upped their target price on Bilibili from $12.00 to $13.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Nomura upgraded Bilibili from a “neutral” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Thursday, August 22nd. Finally, Benchmark upped their price objective on Bilibili from $15.00 to $16.00 and gave the company a “buy” rating in a report on Friday, May 24th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.68.

Bilibili Stock Performance

The stock has a 50 day moving average of $15.31 and a two-hundred day moving average of $13.53. The stock has a market cap of $5.88 billion, a PE ratio of -8.18 and a beta of 0.85.

Bilibili (NASDAQ:BILI) last released its earnings results on Thursday, August 22nd. The company reported ($0.65) earnings per share 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 26.46% and a negative net margin of 21.41%. The business’s revenue was up 15.5% on a year-over-year basis. During the same period last year, the business earned ($0.43) earnings per share. Analysts expect that Bilibili Inc. will post -0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its position in 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 acquiring an additional 119,747 shares during the period. Natixis purchased a new position in Bilibili during the first quarter valued at approximately $537,000. Janney Montgomery Scott LLC acquired a new position in Bilibili in the 1st quarter valued at approximately $951,000. GSA Capital Partners LLP purchased a new stake in Bilibili in the 1st quarter worth approximately $460,000. Finally, Swedbank AB acquired a new stake in shares of Bilibili during the 1st quarter valued at $645,000. Hedge funds and other institutional investors own 16.08% of the company’s stock.

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.