Bilibili (NASDAQ:BILI) Cut to Neutral at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has downgraded Bilibili from an "overweight" rating to a "neutral" rating, setting a target price of $24.00 for the stock.
• Bilibili's consensus rating stands at "Moderate Buy", with 9 analysts maintaining a buy rating and 4 giving it a hold rating.
• The stock is currently trading at $23.36, which is close to its twelve-month low of $12.72 and notable as it has a market capitalization of approximately $9.76 billion.

Bilibili (NASDAQ:BILI - Get Free Report) was downgraded by stock analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a research report issued on Monday, MarketBeat reports. They currently have a $24.00 target price on the stock, up from their prior target price of $21.00. JPMorgan Chase & Co.'s price target indicates a potential upside of 5.70% from the company's previous close.

A number of other equities research analysts also recently issued reports on the stock. 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 price objective for the company. Bank of America lifted their target price on Bilibili from $25.00 to $27.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Hsbc Global Res upgraded shares of Bilibili to a "strong-buy" rating in a research report on Wednesday, May 21st. HSBC reaffirmed a "buy" rating on shares of Bilibili in a research note on Tuesday, July 15th. Finally, Wall Street Zen downgraded shares of Bilibili from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Four equities research 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $23.81.

Bilibili Stock Performance

NASDAQ:BILI traded down $0.67 during mid-day trading on Monday, reaching $22.71. The company's stock had a trading volume of 2,265,980 shares, compared to its average volume of 5,157,212. The firm's fifty day moving average price is $20.85 and its two-hundred day moving average price is $19.37. Bilibili has a 12-month low of $12.72 and a 12-month high of $31.77. The stock has a market cap of $9.49 billion, a P/E ratio of -113.67 and a beta of 0.91. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.23.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. SVB Wealth LLC acquired a new position in shares of Bilibili in the 1st quarter valued at $31,000. Federated Hermes Inc. acquired a new position in shares of Bilibili in the fourth quarter worth about $55,000. FNY Investment Advisers LLC purchased a new stake in shares of Bilibili during the 1st quarter worth about $57,000. Brooklyn Investment Group increased its stake in shares of Bilibili by 10,989.7% in the 1st quarter. Brooklyn Investment Group now owns 3,216 shares of the company's stock valued at $61,000 after purchasing an additional 3,187 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new position in Bilibili in the 1st quarter worth about $80,000. 16.08% of the stock is owned by institutional investors and hedge funds.

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.