Bilibili (NASDAQ:BILI) Shares Gap Up – Should You Buy?

Bilibili Inc. (NASDAQ:BILI)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $16.10, but opened at $16.91. Bilibili shares last traded at $16.80, with a volume of 747,632 shares changing hands.

Wall Street Analyst Weigh In

BILI has been the subject of several analyst reports. The Goldman Sachs Group raised Bilibili from a “neutral” rating to a “buy” rating and upped their price objective for the company from $16.50 to $22.60 in a research note on Thursday, September 26th. Benchmark increased their target price on Bilibili from $16.00 to $24.00 and gave the company a “buy” rating in a report on Friday, November 15th. Bank of America increased their price target on Bilibili from $19.00 to $22.50 and gave the stock a “buy” rating in a research note on Friday, October 25th. Daiwa Capital Markets raised Bilibili from a “neutral” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Morgan Stanley began coverage on Bilibili in a research note on Wednesday, September 25th. They set an “equal weight” rating and a $20.00 price target on the stock. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.69.

Bilibili Stock Up 3.6 %

The stock has a 50 day simple moving average of $19.30 and a 200 day simple moving average of $18.09. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of -18.13 and a beta of 0.81.

Bilibili (NASDAQ:BILI) last issued its earnings results on Thursday, November 14th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.47. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.14 billion. Bilibili had a negative return on equity of 15.17% and a negative net margin of 10.73%. Bilibili’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.39) earnings per share. As a group, analysts forecast that Bilibili Inc. will post -0.34 EPS for the current year.

Institutional Investors Weigh In On Bilibili

A number of hedge funds have recently made changes to their positions in BILI. Renaissance Technologies LLC raised its holdings in shares of Bilibili by 17.2% during the second quarter. Renaissance Technologies LLC now owns 601,066 shares of the company’s stock valued at $9,280,000 after buying an additional 88,100 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Bilibili by 10.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,610 shares of the company’s stock valued at $272,000 after buying an additional 1,650 shares during the last quarter. Beck Bode LLC bought a new stake in Bilibili during the second quarter worth approximately $165,000. Seven Eight Capital LP bought a new stake in Bilibili during the second quarter worth approximately $352,000. Finally, Profund Advisors LLC raised its holdings in Bilibili by 5.7% during the second quarter. Profund Advisors LLC now owns 41,806 shares of the company’s stock worth $645,000 after purchasing an additional 2,257 shares in the last quarter. 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.