Bilibili (BILI) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Bilibili (NASDAQ:BILI) from a hold rating to a sell rating in a research note released on Tuesday.

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. “

Other equities analysts have also issued research reports about the company. Bank of America cut their price target on Bilibili from $17.30 to $15.00 and set a buy rating for the company in a research note on Tuesday, September 11th. JPMorgan Chase & Co. cut their price target on Bilibili from $16.00 to $14.00 and set an overweight rating for the company in a research note on Wednesday, August 29th. Finally, Morgan Stanley lowered Bilibili from an overweight rating to an equal weight rating and cut their price objective for the stock from $13.50 to $11.00 in a research note on Monday, September 24th.

Shares of Bilibili stock opened at $13.46 on Tuesday. Bilibili has a twelve month low of $9.09 and a twelve month high of $22.70.

Bilibili (NASDAQ:BILI) last announced its quarterly earnings results on Monday, August 27th. The company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.04). The company had revenue of $155.10 million during the quarter, compared to analysts’ expectations of $142.41 million. During the same period in the previous year, the company posted ($3.03) EPS. The firm’s quarterly revenue was up 76.1% compared to the same quarter last year. As a group, analysts anticipate that Bilibili will post -0.39 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of BILI. BlackRock Inc. increased its stake in Bilibili by 482.8% during the 2nd quarter. BlackRock Inc. now owns 2,331,934 shares of the company’s stock worth $32,624,000 after buying an additional 1,931,783 shares in the last quarter. Wells Fargo & Company MN increased its stake in Bilibili by 73.0% during the 2nd quarter. Wells Fargo & Company MN now owns 4,258,279 shares of the company’s stock worth $59,573,000 after buying an additional 1,797,067 shares in the last quarter. TB Alternative Assets Ltd. purchased a new stake in Bilibili during the 2nd quarter worth approximately $17,916,000. Millennium Management LLC purchased a new stake in Bilibili during the 1st quarter worth approximately $6,487,000. Finally, Point72 Asset Management L.P. purchased a new stake in Bilibili during the 1st quarter worth approximately $3,025,000. Institutional investors own 9.77% 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 platform that covers a range of genres and media formats, including videos, live broadcasting, and mobile games. The company was founded in 2009 and is headquartered in Shanghai, the People's Republic of China.

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