Bilibili (NASDAQ:BILI) Shares Gap Up – Time to Buy?

Bilibili Inc. (NASDAQ:BILI)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $19.82, but opened at $22.00. Bilibili shares last traded at $21.81, with a volume of 7,106,947 shares changing hands.

Analysts Set New Price Targets

BILI has been the subject of a number of analyst reports. Daiwa America upgraded shares of Bilibili from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Daiwa Capital Markets upgraded shares of Bilibili from a “neutral” rating to a “buy” rating in a research report on Friday, November 8th. Benchmark boosted their target price on Bilibili from $16.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Bank of America increased their target price on Bilibili from $19.00 to $22.50 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Mizuho lifted their price target on Bilibili from $17.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.69.

Bilibili Trading Up 10.9 %

The firm has a 50 day moving average price of $18.19 and a 200-day moving average price of $18.39. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of -23.90 and a beta of 0.81.

Bilibili (NASDAQ:BILI) last announced its earnings results on Thursday, November 14th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.47. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.14 billion. Bilibili had a negative net margin of 10.73% and a negative return on equity of 15.17%. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.39) earnings per share. As a group, equities analysts expect that Bilibili Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BILI. Y Intercept Hong Kong Ltd grew its holdings in Bilibili by 1,064.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 190,275 shares of the company’s stock valued at $4,449,000 after buying an additional 173,941 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Bilibili by 31.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,294,180 shares of the company’s stock valued at $30,258,000 after acquiring an additional 311,073 shares during the last quarter. US Bancorp DE increased its position in Bilibili by 882.4% during the 3rd quarter. US Bancorp DE now owns 70,999 shares of the company’s stock worth $1,660,000 after purchasing an additional 63,772 shares in the last quarter. Jennison Associates LLC raised its stake in Bilibili by 208.4% in the 3rd quarter. Jennison Associates LLC now owns 1,807,524 shares of the company’s stock valued at $42,260,000 after purchasing an additional 1,221,433 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Bilibili in the 3rd quarter valued at about $921,000. 16.08% of the stock is currently owned by institutional investors and hedge funds.

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.