Bilibili (NASDAQ:BILI) Stock Price Up 5.3% - Should You Buy?

Bilibili Inc. (NASDAQ:BILI) experienced a notable increase in its stock price, rising by 5.3% on Wednesday. The shares peaked at $18.67 before closing slightly lower at $18.54, which is an increase from the previous close of $17.61. During midday trading, around 3,124,689 shares were exchanged, reflecting a significant drop of 38% compared to the average daily volume of 5,015,498 shares.

Wall Street Analysts Forecast Growth

Recent analysis from various equities research firms has been optimistic about Bilibili's potential. Mizuho enhanced their price target from $17.00 to $21.00 while assigning an 'outperform' rating. Meanwhile, Daiwa Capital Markets elevated their stance from 'neutral' to 'buy,' indicating growing confidence in the stock. Barclays increased their target from $19.00 to $24.00 and categorized the stock as 'overweight.' Also, Bank of America revised their target upwards from $19.00 to $22.50 with a 'buy' recommendation. In total, three analysts have a hold rating on Bilibili, nine have rated it as a buy, and two have designated it as a strong buy. As per MarketBeat.com, Bilibili currently holds an average rating of 'Moderate Buy' with an expected target price of $19.69.

Bilibili Stock Performance

The company has a market capitalization of $9.11 billion, with a price-to-earnings ratio of -23.90 and a beta of 0.81. The stock’s recent performance indicates a 50-day simple moving average of $18.12 and a 200-day simple moving average of $18.31. Bilibili recently revealed its quarterly earnings on November 14, reporting earnings of $0.57 per share, far exceeding the consensus forecast of $0.10. Additionally, the company’s revenue reached $7.31 billion, surpassing analyst expectations of $7.14 billion. Year-over-year, revenue rose by 25.8% compared to the same quarter last year. Notably, the business reported a negative return on equity of 15.17% and a negative net margin of 10.73%. For the current year, analysts expect Bilibili to report earnings of -0.39 per share.

Institutional Inflows and Outflows

Recent changes in institutional stakes show an increased investor interest in Bilibili. First Beijing Investment Ltd upped its shareholdings in the third quarter by 96.2%, owning 3,793,582 shares valued at $88,694,000 after gaining an additional 1,860,496 shares. Jennison Associates LLC reported a 26.4% increase in their stake during the fourth quarter, owning 2,285,264 shares worth $41,386,000. BNP Paribas Financial Markets saw a whopping 422.0% increase in shares owned, now holding 2,256,058 shares valued at $52,747,000 after adding 1,823,829 shares. Two Sigma Advisers LP reported an extraordinary rise of 14,710.1% in their holdings in this period. Furthermore, Connor Clark & Lunn Investment Management Ltd increased its stake by 16.2% in the fourth quarter. Overall, institutional investors and hedge funds together hold 16.08% of Bilibili’s stock.

Bilibili Company Profile

Bilibili Inc. offers online entertainment services primarily targeted at the youth demographic in the People’s Republic of China. Their platform features professional and user-generated videos, mobile games, and various value-added services, including live broadcasting, audio dramas, and comics.

Should You Invest $1,000 in Bilibili Right Now?

Before making any investment decisions, it is advisable to consider broader market recommendations. While analysts currently rate Bilibili with a 'Moderate Buy' status, several top-rated analysts highlight other stocks they believe offer better investment opportunities. It may be worth exploring these alternatives in a challenging market environment.

Bilibili, Stocks, Investment