Wall Street Zen Upgrades Bilibili (NASDAQ:BILI) to "Buy"

Key Points

• Bilibili's rating has been upgraded from "hold" to "buy" by Wall Street Zen, highlighting increased optimism among analysts regarding the company's stock performance.
• Several brokerages have recently adjusted their price targets for Bilibili, with HSBC raising its target, while Benchmark lowered it, indicating mixed sentiments in the market.
• Bilibili's shares are currently trading at $23.98, with a market cap of $10.02 billion and a consensus price target of $24.57, suggesting a positive outlook moving forward.

Bilibili (NASDAQ:BILI - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other research firms also recently commented on BILI. JPMorgan Chase & Co. downgraded Bilibili from an "overweight" rating to a "neutral" rating and increased their target price for the company from $21.00 to $24.00 in a research report on Monday, July 28th. Barclays upped their price objective on Bilibili from $25.00 to $28.00 and gave the company an "overweight" rating in a research note on Friday. Sanford C. Bernstein started coverage on shares of Bilibili in a research report on Tuesday, July 8th. They set an "outperform" rating and a $28.00 target price on the stock. HSBC reissued a "buy" rating on shares of Bilibili in a report on Tuesday, July 15th. Finally, Benchmark dropped their price target on shares of Bilibili from $30.00 to $28.00 and set a "buy" rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Bilibili presently has an average rating of "Moderate Buy" and an average target price of $24.91.

Bilibili Price Performance

Shares of NASDAQ:BILI traded down $0.51 during trading on Friday, hitting $22.74. 3,473,351 shares of the company were exchanged, compared to its average volume of 4,908,207. Bilibili has a 1-year low of $13.60 and a 1-year high of $31.77. The company has a market capitalization of $9.51 billion, a P/E ratio of 324.86 and a beta of 0.94. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.57. The business's 50 day moving average is $22.69 and its 200-day moving average is $20.31.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BILI. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Bilibili by 7.7% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,970 shares of the company's stock worth $214,000 after acquiring an additional 709 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Bilibili by 0.7% during the second quarter. Geode Capital Management LLC now owns 103,666 shares of the company's stock worth $2,224,000 after purchasing an additional 713 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC grew its position in Bilibili by 3.3% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 23,109 shares of the company's stock worth $419,000 after purchasing an additional 749 shares in the last quarter. Advisors Asset Management Inc. grew its position in Bilibili by 16.6% in the 1st quarter. Advisors Asset Management Inc. now owns 5,280 shares of the company's stock worth $101,000 after purchasing an additional 751 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Bilibili by 1.2% in the 1st quarter. Royal Bank of Canada now owns 87,505 shares of the company's stock valued at $1,672,000 after buying an additional 1,014 shares during the last quarter. Institutional investors and hedge funds own 16.08% of the company's stock.

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.