Bilibili (NASDAQ:BILI) Shares Gap Up After Earnings Beat

Bilibili Inc. (NASDAQ:BILI) 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 changing hands.

The company reported $0.05 earnings per share for the quarter, beating 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%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd boosted its stake in Bilibili by 1,064.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 190,275 shares of the company’s stock worth $4,449,000 after acquiring an additional 173,941 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Bilibili by 31.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,294,180 shares of the company’s stock worth $30,258,000 after acquiring an additional 311,073 shares during the last quarter. US Bancorp DE boosted its stake in Bilibili by 882.4% during the 3rd quarter. US Bancorp DE now owns 70,999 shares of the company’s stock worth $1,660,000 after acquiring an additional 63,772 shares during the last quarter. Jennison Associates LLC boosted its stake in Bilibili by 208.4% during the 3rd quarter. Jennison Associates LLC now owns 1,807,524 shares of the company’s stock worth $42,260,000 after acquiring an additional 1,221,433 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Bilibili during the 3rd quarter worth approximately $921,000. Institutional investors own 16.08% of the company’s stock.

Bilibili Trading Up 8.8 %

The firm’s 50 day moving average is $18.21 and its two-hundred day moving average is $18.53. The firm has a market cap of $9.16 billion, a P/E ratio of -24.03 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.