Bilibili (NASDAQ:BILI) Upgraded to “Buy” by The Goldman Sachs Group

Bilibili (NASDAQ:BILI) was upgraded by The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. The brokerage presently has a $22.60 price target on the stock, up from their prior price target of $16.50. The Goldman Sachs Group’s target price indicates a potential downside of 1.40% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Nomura Securities upgraded shares of Bilibili from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. Daiwa Capital Markets upgraded shares of Bilibili from a “neutral” rating to an “outperform” rating in a research report on Thursday, August 22nd. Bank of America lifted their price objective on Bilibili from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Morgan Stanley began coverage on Bilibili in a report on Wednesday. They set an “equal weight” rating and a $20.00 target price for the company. Finally, 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. Three investment 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 company’s stock. According to data from MarketBeat.com, Bilibili currently has an average rating of “Moderate Buy” and an average target price of $17.83.

Bilibili Trading Up 8.7 %

Shares of BILI opened at $22.92 on Thursday. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of -13.72 and a beta of 0.83. The stock has a 50 day moving average of $15.00 and a 200 day moving average of $14.30. Bilibili has a 12 month low of $8.80 and a 12 month high of $23.03.

Bilibili (NASDAQ:BILI) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $6.10 billion. During the same quarter last year, the firm posted ($0.43) earnings per share. Bilibili’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities research analysts predict that Bilibili will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On Bilibili

Institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC raised its stake in Bilibili by 61.9% in the second quarter. CWM LLC now owns 2,232 shares of the company’s stock worth $34,000 after buying an additional 853 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Bilibili by 62.6% in the 4th quarter. Parallel Advisors LLC now owns 4,503 shares of the company’s stock worth $55,000 after acquiring an additional 1,734 shares in the last quarter. Sandia Investment Management LP purchased a new position in shares of Bilibili in the 1st quarter valued at approximately $112,000. Beck Bode LLC purchased a new stake in Bilibili in the second quarter worth $165,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Bilibili by 10.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,610 shares of the company’s stock worth $272,000 after purchasing an additional 1,650 shares in the last quarter. 16.08% of the stock is owned by hedge funds and other institutional investors.

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.