The Goldman Sachs Group Upgrades Bilibili (NASDAQ:BILI) to “Buy”

Bilibili (NASDAQ:BILI) was upgraded by research analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a $22.60 price objective on the stock, up from their previous price objective of $16.50. The Goldman Sachs Group’s price target suggests a potential downside of 1.40% from the company’s previous close.

A number of other equities analysts have also recently issued reports on BILI. Nomura Securities upgraded Bilibili from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 22nd. Nomura upgraded Bilibili from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Thursday, August 22nd. Daiwa Capital Markets raised shares of Bilibili from a “neutral” rating to an “outperform” rating in a report on Thursday, August 22nd. Morgan Stanley initiated coverage on shares of Bilibili in a research report on Wednesday. They issued an “equal weight” rating and a $20.00 target price for the company. Finally, Bank of America increased their price target on shares of Bilibili from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.83.

Bilibili Price Performance

BILI opened at $22.92 on Thursday. The company’s 50 day simple moving average is $15.00 and its 200-day simple moving average is $14.30. Bilibili has a one year low of $8.80 and a one year high of $23.03. The stock has a market capitalization of $9.47 billion, a P/E ratio of -13.72 and a beta of 0.83.

Bilibili (NASDAQ:BILI) last posted its quarterly earnings results on Thursday, August 22nd. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.55). The company had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $6.10 billion. Bilibili had a negative return on equity of 22.44% and a negative net margin of 16.71%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.43) earnings per share. As a group, analysts anticipate that Bilibili will post -0.4 EPS for the current year.

Institutional Investors Weigh In On Bilibili

Several institutional investors and hedge funds have recently made changes to their positions in BILI. CWM LLC lifted its stake in Bilibili by 61.9% in the second quarter. CWM LLC now owns 2,232 shares of the company’s stock valued at $34,000 after buying an additional 853 shares during the period. Parallel Advisors LLC grew its holdings in Bilibili by 62.6% in the fourth quarter. Parallel Advisors LLC now owns 4,503 shares of the company’s stock worth $55,000 after purchasing an additional 1,734 shares during the period. Sandia Investment Management LP bought a new stake in Bilibili in the first quarter valued at $112,000. Beck Bode LLC acquired a new position in shares of Bilibili during the second quarter valued at about $165,000. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Bilibili by 10.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 17,610 shares of the company’s stock worth $272,000 after purchasing an additional 1,650 shares in the last quarter. Institutional investors and hedge funds 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.