What happened

Shares of Bilibili (BILI 3.82%) were trading 13.9% higher at 2:30 p.m. EST Monday, after rising as high as 14.4% earlier in the day. The China-based online entertainment company saw one bullish analyst report published over the weekend and another one on Monday morning.

So what

UBS analyst Zhijing Liu raised his target price for Bilibili from $90 to $185 per share, reiterating a buy rating on the stock. Goldman analyst Piyush Mubayi also restated an existing buy rating, lifting his target price from $70 to $160 per share. Bilibili closed Friday's trading at $126 per share, having doubled its share prices in three months.

These adjusted price targets followed a plethora of similar updates from firms such as J.P. Morgan and Credit Suisse last week, all based on Bilibili's Street-stumping fourth-quarter report.

A group of smiling young people, sitting on beanbags, use their smartphones.

Image source: Getty Images.

Now what

Bilibili's fourth-quarter sales landed at $588.5 million, while adjusted net loss came in at $0.29 per share. The analyst consensus had pointed to losses of $0.33 per share on revenue near $551.5 million. The company's video-sharing services are finding strong growth among young Chinese audiences, and the number of paying users is growing faster than Bilibili's ad-supported user count.

Goldman and UBS are simply updating their target prices to reflect Bilibili's impressive earnings report here. This shouldn't come as a surprise to investors, but Bilibili is a volatile high-growth stock. Sometimes a simple reminder of the company's recent success is enough to give the stock price a significant push.