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

Bilibili Inc. (NASDAQ:BILI)’s stock price gapped up prior to trading 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.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays upgraded shares of Bilibili from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $14.00 to $19.00 in a research report on Friday, August 23rd. Nomura raised Bilibili from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Thursday, August 22nd. Daiwa Capital Markets lowered Bilibili from an “outperform” rating to a “neutral” rating in a research report on Thursday, October 3rd. Bank of America raised their price objective on Bilibili from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Daiwa America lowered Bilibili from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Five 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.83.

Bilibili Trading Up 4.2 %

The business’s fifty day simple moving average is $17.61 and its 200-day simple moving average is $15.57. The firm has a market cap of $8.38 billion, a P/E ratio of -12.38 and a beta of 0.86.

Bilibili (NASDAQ:BILI) last released its quarterly 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 business had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $6.10 billion. Bilibili had a negative net margin of 16.71% and a negative return on equity of 22.44%. During the same period in the previous year, the company earned ($0.43) EPS. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. Analysts anticipate that Bilibili Inc. will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Bilibili during the 2nd quarter valued at about $29,336,000. OLD Mission Capital LLC purchased a new stake in Bilibili in the first quarter worth about $14,849,000. SIH Partners LLLP boosted its position in Bilibili by 145.9% during the 2nd quarter. SIH Partners LLLP now owns 1,195,420 shares of the company’s stock valued at $18,457,000 after acquiring an additional 709,200 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Bilibili by 385.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 981,969 shares of the company’s stock worth $15,162,000 after acquiring an additional 779,614 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in shares of Bilibili in the 2nd quarter worth approximately $11,490,000. 16.08% of the stock is owned by hedge funds and other institutional investors.

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.