Bilibili Inc. (NASDAQ:BILI – Get Free Report) shares saw unusually-strong trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 6,447,059 shares changed hands during mid-day trading, a decline of 6% from the previous session’s volume of 6,875,391 shares.The stock last traded at $24.52 and had previously closed at $22.11.
The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.05 billion. Bilibili had a negative return on equity of 15.17% and a negative net margin of 10.73%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. Bank of America boosted their price target on Bilibili from $19.00 to $22.50 and gave the stock a “buy” rating in a report 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. Mizuho raised their price target on shares of Bilibili from $17.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Daiwa America upgraded shares of Bilibili from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, Benchmark upped their target price on shares of Bilibili from $16.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.78.
Hedge Funds Weigh In On Bilibili
A number of large investors have recently made changes to their positions in BILI. Avior Wealth Management LLC grew its stake in Bilibili by 1,817.7% during the 4th quarter. Avior Wealth Management LLC now owns 1,515 shares of the company’s stock worth $27,000 after buying an additional 1,436 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Bilibili by 227.3% during the third quarter. Blue Trust Inc. now owns 1,283 shares of the company’s stock worth $30,000 after purchasing an additional 891 shares during the period. TD Private Client Wealth LLC purchased a new stake in Bilibili in the third quarter valued at approximately $53,000. Federated Hermes Inc. purchased a new position in Bilibili during the 4th quarter worth approximately $55,000. Finally, Venturi Wealth Management LLC acquired a new stake in Bilibili during the 3rd quarter valued at approximately $63,000. 16.08% of the stock is owned by institutional investors and hedge funds.
Bilibili Trading Up 8.7 %
The firm’s fifty day moving average price is $18.21 and its 200 day moving average price is $18.53. The firm has a market capitalization of $9.96 billion, a PE ratio of -26.50 and a beta of 0.81.
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.
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