Raymond James Reiterates Strong-Buy Rating for Roblox (NYSE:RBLX)

Roblox (NYSE:RBLX)‘s stock had its “strong-buy” rating restated by research analysts at Raymond James in a research report issued on Friday,Benzinga reports. They presently have a $60.00 target price on the stock. Raymond James’ target price indicates a potential upside of 21.51% from the company’s current price.

A number of other research analysts have also weighed in on RBLX. JPMorgan Chase & Co. raised their price objective on shares of Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company increased their target price on shares of Roblox from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Needham & Company LLC upped their price target on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets reiterated an “outperform” rating and set a $62.00 price target (up from $56.00) on shares of Roblox in a research report on Friday, November 1st. Finally, Barclays lifted their price objective on Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.30.

Roblox Stock Performance

NYSE RBLX opened at $49.38 on Friday. The stock has a fifty day simple moving average of $46.00 and a 200 day simple moving average of $40.95. Roblox has a twelve month low of $29.55 and a twelve month high of $55.10. The company has a market capitalization of $30.00 billion, a price-to-earnings ratio of -30.11 and a beta of 1.56. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.02. The business had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.45) earnings per share. Sell-side analysts expect that Roblox will post -1.56 EPS for the current year.

Insider Buying and Selling at Roblox

In other Roblox news, insider Arvind Chakravarthy sold 592 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $43.32, for a total value of $25,645.44. Following the completion of the transaction, the insider now directly owns 276,892 shares in the company, valued at approximately $11,994,961.44. This represents a 0.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amy Marie Rawlings sold 12,258 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $44.09, for a total transaction of $540,455.22. Following the completion of the sale, the chief accounting officer now directly owns 87,360 shares of the company’s stock, valued at approximately $3,851,702.40. This represents a 12.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,011,095 shares of company stock worth $48,171,645. 22.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RBLX. V Square Quantitative Management LLC bought a new stake in shares of Roblox during the third quarter valued at approximately $27,000. Frazier Financial Advisors LLC lifted its position in Roblox by 20,800.0% during the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after buying an additional 624 shares during the period. PARK CIRCLE Co bought a new stake in shares of Roblox during the 2nd quarter valued at $30,000. Strategic Financial Concepts LLC purchased a new stake in shares of Roblox in the 2nd quarter worth about $33,000. Finally, Gilliland Jeter Wealth Management LLC increased its stake in shares of Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after acquiring an additional 506 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

About Roblox

Roblox Corporation develops and operates an online entertainment platform in the United States and internationally. It offers Roblox Studio, a free toolset that allows developers and creators to build, publish, and operate 3D experiences, and other content; Roblox Client, an application that allows users to explore 3D experience; and Roblox Cloud, which provides services and infrastructure that power the platform.