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

Bilibili Inc. (NASDAQ:BILI - Get Free Report) gapped up before the market opened 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.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BILI. Daiwa Capital Markets downgraded Bilibili from an "outperform" rating to a "neutral" rating in a report on Thursday, October 3rd. Daiwa America lowered shares of Bilibili from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 3rd. Morgan Stanley assumed coverage on shares of Bilibili in a research note on Wednesday, September 25th. They set an "equal weight" rating and a $20.00 target price on the stock. Nomura upgraded shares of Bilibili from a "neutral" rating to a "buy" rating and set a $18.00 price target for the company in a report on Thursday, August 22nd. Finally, Sanford C. Bernstein upped their price objective on shares of Bilibili from $12.00 to $13.00 and gave the company a "market perform" rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $17.83.

Bilibili Stock Up 3.5 %

The company has a 50-day moving average of $17.74 and a 200-day moving average of $15.63. The company has a market cap of $8.32 billion, a PE ratio of -12.07 and a beta of 0.86.

Bilibili (NASDAQ:BILI - Get Free Report) last issued its quarterly earnings data on Thursday, August 22nd. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.55). Bilibili had a negative net margin of 16.71% and a negative return on equity of 22.44%. The company had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter last year, the business posted ($0.43) earnings per share. Bilibili's revenue was up 15.5% on a year-over-year basis. As a group, equities analysts predict that Bilibili Inc. will post -0.37 EPS for the current year.

Institutional Investors Weigh In On Bilibili

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SpiderRock Advisors LLC purchased a new position in shares of Bilibili in the 1st quarter worth approximately $1,421,000. BNP Paribas Financial Markets boosted its position in Bilibili by 62.6% in the first quarter. BNP Paribas Financial Markets now owns 310,999 shares of the company's stock worth $3,483,000 after purchasing an additional 119,747 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Bilibili in the 1st quarter valued at $951,000. GSA Capital Partners LLP bought a new position in Bilibili in the 1st quarter valued at $460,000. Finally, SIH Partners LLLP increased its position in shares of Bilibili by 761.2% during the 1st quarter. SIH Partners LLLP now owns 486,220 shares of the company's stock valued at $5,446,000 after purchasing an additional 429,760 shares during the last quarter. Hedge funds and other institutional investors 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.