Roblox (NYSE:RBLX) Upgraded 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 note released on Monday morning, MarketBeat.com reports. The brokerage currently has $65.00 target price on the stock, up from their previous target price of $38.00.

RBLX has been the topic of several other research reports. Citigroup boosted their price target on shares of Roblox from $46.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Barclays lifted their price objective on Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday. Wolfe Research initiated coverage on shares of Roblox in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Wells Fargo & Company increased their price objective on shares of Roblox from $54.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Needham & Company LLC lifted their price objective on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday. Seven investment 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 company’s stock. Based on data from MarketBeat.com, Roblox currently has a consensus rating of “Moderate Buy” and an average target price of $54.80.

Roblox Stock Down 2.8 %

RBLX stock opened at $50.00 on Monday. The business’s 50-day moving average price is $43.79 and its 200-day moving average price is $39.48. The stock has a market cap of $30.38 billion, a P/E ratio of -30.49 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 has a twelve month low of $29.55 and a twelve month high of $53.07.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The firm 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 quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.45) earnings per share. On average, equities research analysts forecast that Roblox will post -1.59 EPS for the current year.

Insider Buying and Selling at Roblox

In related news, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the transaction, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at $14,543,253.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CAO Amy Marie Rawlings sold 4,933 shares of Roblox 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 completion of the transaction, the chief accounting officer now directly owns 99,617 shares of the company’s stock, valued at $4,019,545.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the completion of the transaction, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at $14,543,253.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 989,341 shares of company stock worth $44,391,412 over the last three months. Corporate insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several institutional investors and hedge funds have recently modified their holdings of RBLX. V Square Quantitative Management LLC acquired a new position in Roblox during the third quarter worth $27,000. PARK CIRCLE Co purchased a new position in Roblox in the 2nd quarter valued at $30,000. Strategic Financial Concepts LLC acquired a new stake in shares of Roblox in the second quarter valued at about $33,000. Gilliland Jeter Wealth Management LLC lifted its stake in shares of Roblox by 102.4% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after buying an additional 506 shares in the last quarter. Finally, Washington Trust Advisors Inc. acquired a new position in Roblox during the first quarter worth about $39,000. 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.