Wed, July 24, 2024

Bilibili Jumps 8.48% Following Game Launch and Analyst Upgrades


Quick Look:

  • Bilibili Inc. (NASDAQ: BILI) saw an 8.48% rise to $15.61, nearing its 52-week high of $19.15.
  • “San Guo: Mou Ding Tian Xia” debuted strongly, pushing UBS to upgrade Bilibili’s rating to Buy.
  • Market valuation at $5.00 billion, with expected annual revenue growth of 13.30%.
  • Bilibili trades above its 20-day and 50-day SMAs, with an RSI of 59.53, indicating stable market conditions.

Bilibili Inc. (NASDAQ: BILI) experienced a notable rise in its stock price on Thursday, June 13th. Opening with a 12% jump from the previous day’s close of $14.39, the stock reached a current price of $15.61, marking an impressive increase of 8.48%. This surge brings Bilibili closer to its 52-week high of $19.15 while still comfortably above its 52-week low of $8.80. Despite this recent upturn, the stock’s performance over the past month shows a slight decline of 0.19%.

New Game Boosts Bilibili to Fourth in iOS Rankings

The recent launch of Bilibili’s new game, “San Guo: Mou Ding Tian Xia,” has significantly contributed to the company’s stock momentum. The game debuted at the fourth position on the iOS rankings, exceeding market expectations. Analysts from UBS have highlighted this strong initial performance, suggesting that while sustained success is critical, the game’s impressive debut is likely to influence market reactions positively. UBS has recently upgraded Bilibili’s rating from Neutral to Buy, setting a price target of $18 per share. Similarly, JPMorgan has maintained a Buy rating and increased its price target from $17 to $18 in May.

Bilibili Valued at $5B, Projects $851.53M Quarterly Revenue

Bilibili’s current market valuation stands at $5.00 billion. The company’s earnings estimates for the current quarter project a loss of $0.1 per share, with an expected year-over-year EPS growth of -0.17 for the current year and a positive growth of 0.37 for the next year. Revenue estimates for the current quarter average $851.53 million, with projections ranging from a low of $830.35 million to a high of $863.05 million. The annual revenue forecast is set at $3.58 billion, reflecting an anticipated growth of 13.30%.

Regarding sales growth, Bilibili reported an 18.00% increase in the previous year’s corresponding quarter, indicating strong comparative performance.

Bilibili Trades 15.60% Above 50-Day SMA, RSI at 59.53

Investment analysts are confident in Bilibili’s short-term and medium-term prospects, with 100% of recommendations indicating a Buy. Long-term prospects also appear favourable, with 50% recommending Buy.

Key technical indicators further support this positive outlook. The stock’s PEG ratio stands at zero, suggesting potential undervaluation relative to its growth. Bilibili trades 5.28% above its 20-day Simple Moving Average (SMA) and 15.60% above its 50-day SMA. The Relative Strength Index (RSI) over 14 days is 59.53, indicating neither overbought nor oversold conditions. Bilibili’s volatility over the past week and month has been 3.33% and 4.14%, respectively, with a beta of 0.83 indicating lower volatility relative to the market. The Average True Range (ATR), a measure of volatility, stands at 0.78.

7.36M Avg. Trading Volume, 25.13% Institutional Holdings

The average daily trading volume over the past three months for Bilibili is approximately 7.36 million shares, with a total of 328.44 million shares outstanding. Insider holdings are negligible, while institutional investors hold 25.13%.

Year-to-date, Bilibili’s stock has risen by 28.27%, reflecting high investor interest and confidence in the company’s growth trajectory and strategic initiatives.

Bilibili Inc. is demonstrating strong stock performance, bolstered by the successful launch of a new game and positive analyst ratings. The company is well-positioned for continued growth with favourable financial projections and robust technical indicators. It is an attractive option for investors looking for opportunities in the tech and gaming sectors.


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