Bilibili (NASDAQ:BILI) Upgraded to Strong-Buy at Zacks Investment Research

Bilibili (NASDAQ:BILI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Friday, Zacks.com reports. The firm currently has a $17.00 target price on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 15.49% from the stock’s previous close.

According to Zacks, “Bilibili Inc. provides online entertainment platform primarily in China. It provides online videos, live broadcasting and mobile games. Bilibili Inc. is based in NEW YORK. “

A number of other equities analysts also recently commented on the company. UBS Group began coverage on Bilibili in a report on Wednesday, April 10th. They issued a “buy” rating and a $23.00 price objective on the stock. ValuEngine downgraded Bilibili from a “buy” rating to a “hold” rating in a report on Thursday. Finally, 86 Research upgraded Bilibili to a “buy” rating and set a $19.00 price objective on the stock in a report on Friday, May 17th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $19.50.

NASDAQ:BILI traded down $0.03 during mid-day trading on Friday, reaching $14.72. The stock had a trading volume of 2,060,936 shares, compared to its average volume of 4,091,308. The company has a 50 day moving average of $15.83. Bilibili has a fifty-two week low of $9.09 and a fifty-two week high of $21.50. The company has a market cap of $4.10 billion, a PE ratio of -38.74 and a beta of 1.81.

Bilibili (NASDAQ:BILI) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. Bilibili had a negative return on equity of 11.13% and a negative net margin of 14.65%. The firm had revenue of $203.54 million for the quarter, compared to the consensus estimate of $192.60 million. On average, analysts predict that Bilibili will post -0.61 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the business. Comerica Bank boosted its position in Bilibili by 8.9% during the second quarter. Comerica Bank now owns 12,783 shares of the company’s stock worth $199,000 after purchasing an additional 1,046 shares during the period. BNP Paribas Arbitrage SA boosted its position in Bilibili by 207.0% during the second quarter. BNP Paribas Arbitrage SA now owns 44,019 shares of the company’s stock worth $716,000 after purchasing an additional 29,680 shares during the period. Granite Point Capital Management L.P. boosted its position in Bilibili by 28.6% during the second quarter. Granite Point Capital Management L.P. now owns 315,000 shares of the company’s stock worth $5,125,000 after purchasing an additional 70,000 shares during the period. Daiwa Securities Group Inc. bought a new stake in shares of Bilibili in the second quarter valued at approximately $434,000. Finally, Ocean Arete Ltd. bought a new stake in shares of Bilibili in the second quarter valued at approximately $3,674,000. 24.78% 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 platform that covers a range of genres and media formats, including videos, live broadcasting, and mobile games. Bilibili Inc has a strategic collaboration agreement with Tencent Holdings Limited for sharing and operating existing and additional anime and games on its platform in China.

Featured Story: CBOE Russell 2000® Volatility Index

Get a free copy of the Zacks research report on Bilibili (BILI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Bilibili (NASDAQ:BILI)

Receive News & Ratings for Bilibili Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bilibili and related companies with MarketBeat.com's FREE daily email newsletter.