Daiwa Capital Markets Upgrades Bilibili (NASDAQ:BILI) to “Buy”

Bilibili (NASDAQ:BILI) was upgraded by research analysts at Daiwa Capital Markets from a “neutral” rating to a “buy” rating in a research report issued on Friday, Marketbeat Ratings reports.

Several other research analysts also recently weighed in on BILI. Daiwa America downgraded Bilibili from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Sanford C. Bernstein increased their price target on Bilibili from $12.00 to $13.00 and gave the stock a “market perform” rating in a research note on Friday, August 23rd. Nomura upgraded Bilibili from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Thursday, August 22nd. The Goldman Sachs Group upgraded Bilibili from a “neutral” rating to a “buy” rating and increased their price target for the stock from $16.50 to $22.60 in a research note on Thursday, September 26th. Finally, Morgan Stanley assumed coverage on Bilibili in a research note on Wednesday, September 25th. They set an “equal weight” rating and a $20.00 price target for the company. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.15.

Bilibili Trading Down 6.4 %

NASDAQ BILI opened at $22.59 on Friday. The firm has a market capitalization of $9.36 billion, a P/E ratio of -16.86 and a beta of 0.86. The business has a fifty day simple moving average of $20.08 and a 200 day simple moving average of $16.75. Bilibili has a 12 month low of $8.80 and a 12 month high of $31.77.

Bilibili (NASDAQ:BILI) last announced its earnings results on Thursday, August 22nd. The company reported ($0.65) earnings per share (EPS) 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 business had revenue of $6.13 billion for the quarter, compared to analysts’ expectations of $6.10 billion. During the same period in the prior year, the business earned ($0.43) earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, sell-side analysts predict that Bilibili will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Bilibili

A number of large investors have recently modified their holdings of BILI. Quarry LP purchased a new position in shares of Bilibili during the 2nd quarter valued at about $29,336,000. First Beijing Investment Ltd raised its holdings in shares of Bilibili by 96.2% during the 3rd quarter. First Beijing Investment Ltd now owns 3,793,582 shares of the company’s stock valued at $88,694,000 after buying an additional 1,860,496 shares in the last quarter. OLD Mission Capital LLC purchased a new position in shares of Bilibili during the 1st quarter valued at about $14,849,000. Jennison Associates LLC raised its holdings in shares of Bilibili by 208.4% during the 3rd quarter. Jennison Associates LLC now owns 1,807,524 shares of the company’s stock valued at $42,260,000 after buying an additional 1,221,433 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in Bilibili by 385.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 981,969 shares of the company’s stock worth $15,162,000 after purchasing an additional 779,614 shares during the period. 16.08% of the stock is owned by hedge funds and other institutional investors.

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.