Bilibili (NASDAQ:BILI) Shares Gap Up After Better-Than-Expected Earnings

Bilibili Inc. (NASDAQ:BILI)’s share price gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $20.33, but opened at $23.25. Bilibili shares last traded at $22.38, with a volume of 12,003,182 shares trading hands.

The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Bilibili had a negative return on equity of 15.17% and a negative net margin of 10.73%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Daiwa Capital Markets upgraded shares of Bilibili from a “neutral” rating to a “buy” rating in a research report on Friday, November 8th. Mizuho increased their price objective on shares of Bilibili from $17.00 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Daiwa America raised shares of Bilibili from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Barclays increased their price target on Bilibili from $19.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, Benchmark lifted their price objective on Bilibili from $16.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.69.

Hedge Funds Weigh In On Bilibili

Institutional investors have recently modified their holdings of the business. Blue Trust Inc. increased its stake in Bilibili by 227.3% during the 3rd quarter. Blue Trust Inc. now owns 1,283 shares of the company’s stock worth $30,000 after purchasing an additional 891 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Bilibili by 1,817.7% during the fourth quarter. Avior Wealth Management LLC now owns 1,515 shares of the company’s stock worth $27,000 after acquiring an additional 1,436 shares in the last quarter. TD Private Client Wealth LLC bought a new stake in shares of Bilibili during the third quarter worth $53,000. Venturi Wealth Management LLC acquired a new stake in shares of Bilibili during the third quarter worth $63,000. Finally, Federated Hermes Inc. bought a new stake in Bilibili in the 4th quarter valued at $55,000. Institutional investors own 16.08% of the company’s stock.

Bilibili Trading Up 8.4 %

The stock’s 50 day moving average is $18.17 and its two-hundred day moving average is $18.51. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of -23.89 and a beta of 0.81.

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.