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

Bilibili Inc. (NASDAQ:BILI)’s share price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. 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.

The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Bilibili had a negative net margin of 10.73% and a negative return on equity of 15.17%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Daiwa America raised Bilibili from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 8th. Barclays lifted their price objective on Bilibili from $19.00 to $24.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Bank of America upped their target price on Bilibili from $19.00 to $22.50 and gave the company a “buy” rating in a research note on Friday, October 25th. Benchmark raised their target price on Bilibili from $16.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Mizuho boosted their price target on shares of Bilibili from $17.00 to $21.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.69.

Institutional Trading of Bilibili

Several large investors have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in shares of Bilibili by 6.5% in the 3rd quarter. Signaturefd LLC now owns 9,731 shares of the company’s stock worth $228,000 after acquiring an additional 598 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Bilibili by 26.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,528 shares of the company’s stock worth $82,000 after purchasing an additional 735 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC increased its stake in shares of Bilibili by 3.3% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 23,109 shares of the company’s stock valued at $419,000 after buying an additional 749 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Bilibili by 227.3% in the third quarter. Blue Trust Inc. now owns 1,283 shares of the company’s stock valued at $30,000 after buying an additional 891 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Bilibili by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 110,560 shares of the company’s stock valued at $2,002,000 after buying an additional 1,140 shares during the last quarter. 16.08% of the stock is owned by institutional investors.

Bilibili Stock Performance

The firm has a market cap of $9.13 billion, a price-to-earnings ratio of -23.89 and a beta of 0.81. The company’s 50-day moving average is $18.17 and its 200-day moving average is $18.51.

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.