Bilibili (BILI) Downgraded to “Sell” at Zacks Investment Research

Bilibili (NASDAQ:BILI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.

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. “

A number of other analysts also recently issued reports on the stock. Morgan Stanley raised shares of Bilibili from an “equal weight” rating to an “overweight” rating and set a $17.00 target price for the company in a research report on Tuesday. Credit Suisse Group began coverage on shares of Bilibili in a research report on Monday, December 10th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $15.33.

BILI traded down $0.90 on Thursday, reaching $15.36. 4,049,199 shares of the company’s stock were exchanged, compared to its average volume of 4,380,477. Bilibili has a twelve month low of $9.09 and a twelve month high of $22.70.

Bilibili (NASDAQ:BILI) last posted its earnings results on Tuesday, November 20th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.02). The company had revenue of $157.08 million for the quarter, compared to analysts’ expectations of $147.46 million. On average, analysts expect that Bilibili will post -0.43 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. Legal & General Group Plc acquired a new stake in Bilibili in the third quarter valued at approximately $51,000. Vanguard Group Inc acquired a new stake in Bilibili in the third quarter valued at approximately $16,513,000. Vanguard Group Inc. acquired a new stake in Bilibili in the third quarter valued at approximately $16,513,000. B. Riley Wealth Management Inc. acquired a new stake in Bilibili in the third quarter valued at approximately $168,000. Finally, Point72 Asset Management L.P. acquired a new stake in Bilibili in the third quarter valued at approximately $3,586,000. 12.19% of the stock is owned by institutional investors.

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. Bilibili Inc has a strategic collaboration agreement with Tencent Holdings Limited for sharing and operating existing and additional anime and games on its platform in China.

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