Roblox (NYSE:RBLX) Rating Increased to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Roblox (NYSE:RBLX) from an equal weight rating to an overweight rating in a research report sent to investors on Monday morning, Marketbeat.com reports. The brokerage currently has $65.00 price objective on the stock, up from their previous price objective of $38.00.

Other equities research analysts have also issued research reports about the stock. Benchmark upped their price objective on shares of Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on shares of Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Barclays upped their price objective on Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Wedbush reissued an “outperform” rating and set a $49.00 target price on shares of Roblox in a research note on Friday, October 25th. Finally, Canaccord Genuity Group upped their price target on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.30.

Roblox Stock Up 0.4 %

Shares of NYSE RBLX opened at $53.11 on Monday. The stock has a market cap of $32.27 billion, a PE ratio of -32.61 and a beta of 1.56. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox has a 12-month low of $29.55 and a 12-month high of $53.66. The company has a 50-day moving average of $44.11 and a 200 day moving average of $39.68.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. The business had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.45) earnings per share. As a group, sell-side analysts predict that Roblox will post -1.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Amy Marie Rawlings sold 4,933 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total transaction of $199,046.55. Following the sale, the chief accounting officer now directly owns 99,617 shares in the company, valued at approximately $4,019,545.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Amy Marie Rawlings sold 4,933 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total transaction of $199,046.55. Following the completion of the transaction, the chief accounting officer now owns 99,617 shares in the company, valued at approximately $4,019,545.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO David Baszucki sold 6,499 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $262,234.65. Following the completion of the sale, the chief executive officer now owns 135,761 shares in the company, valued at approximately $5,477,956.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,029,373 shares of company stock worth $46,476,179 in the last quarter. 22.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roblox

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Impact Partnership Wealth LLC grew its holdings in shares of Roblox by 3.8% during the third quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after purchasing an additional 245 shares during the last quarter. Swedbank AB grew its stake in Roblox by 0.5% during the 2nd quarter. Swedbank AB now owns 53,297 shares of the company’s stock worth $1,983,000 after buying an additional 285 shares during the last quarter. Metis Global Partners LLC increased its position in Roblox by 5.0% during the third quarter. Metis Global Partners LLC now owns 6,003 shares of the company’s stock worth $266,000 after buying an additional 288 shares during the period. Thrive Wealth Management LLC lifted its stake in Roblox by 4.3% in the second quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock valued at $274,000 after buying an additional 300 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Roblox by 5.0% in the third quarter. Oppenheimer & Co. Inc. now owns 6,691 shares of the company’s stock valued at $296,000 after acquiring an additional 321 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

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.