Bilibili (NASDAQ:BILI) Issues Earnings Results

Bilibili (NASDAQ:BILIGet Rating) released its earnings results on Thursday. The company reported ($4.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($4.21), Briefing.com reports. Bilibili had a negative return on equity of 41.02% and a negative net margin of 43.21%. The business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the company earned ($0.45) earnings per share. Bilibili’s quarterly revenue was up 9.2% compared to the same quarter last year. Bilibili updated its Q3 2022 guidance to EPS.

Bilibili Price Performance

Shares of NASDAQ BILI traded down $0.75 during midday trading on Friday, hitting $19.32. The company had a trading volume of 11,835,177 shares, compared to its average volume of 5,272,388. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.84. Bilibili has a twelve month low of $14.93 and a twelve month high of $89.80. The business has a 50-day simple moving average of $24.54 and a two-hundred day simple moving average of $24.78. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of -5.40 and a beta of 1.00.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Bilibili from a “neutral” rating to an “overweight” rating and set a $35.00 price objective on the stock in a report on Wednesday. CLSA cut their price objective on shares of Bilibili from $33.40 to $25.30 and set an “outperform” rating on the stock in a report on Wednesday, May 25th. Benchmark lowered their target price on shares of Bilibili from $56.00 to $30.00 and set a “buy” rating for the company in a report on Friday. UBS Group reduced their price target on shares of Bilibili from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Friday. Finally, Barclays dropped their price objective on Bilibili from $26.00 to $21.00 and set an “equal weight” rating on the stock in a report on Friday. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $38.03.

Institutional Trading of Bilibili

Several hedge funds and other institutional investors have recently made changes to their positions in BILI. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Bilibili by 101.8% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 113,167 shares of the company’s stock valued at $3,120,000 after buying an additional 57,090 shares during the last quarter. Advisor Group Holdings Inc. raised its position in shares of Bilibili by 39.6% in the first quarter. Advisor Group Holdings Inc. now owns 5,012 shares of the company’s stock valued at $127,000 after buying an additional 1,422 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Bilibili by 382.2% in the first quarter. PNC Financial Services Group Inc. now owns 1,027 shares of the company’s stock valued at $27,000 after buying an additional 814 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of Bilibili by 11.5% in the first quarter. Panagora Asset Management Inc. now owns 18,894 shares of the company’s stock valued at $483,000 after buying an additional 1,942 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Bilibili by 1.3% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 69,000 shares of the company’s stock valued at $1,765,000 after buying an additional 900 shares during the last quarter. Institutional investors and hedge funds own 23.43% of the company’s stock.

About Bilibili

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Bilibili Inc provides online entertainment services for the young generations in the People's Republic of China. Its platform offers a range of content, including video services, mobile games, and value-added service, as well as ACG-related comic and audio content. The company's video services include professional user generated videos, occupationally generated videos, and live broadcasting.

Further Reading

Earnings History for Bilibili (NASDAQ:BILI)

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