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 report published on Monday morning, Marketbeat.com reports. Morgan Stanley currently has $65.00 target price on the stock, up from their previous target price of $38.00.

A number of other equities analysts also recently commented on RBLX. Piper Sandler upped their target price on Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Needham & Company LLC raised their target price on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Jefferies Financial Group initiated coverage on shares of Roblox in a research note on Thursday, July 11th. They set a “hold” rating and a $42.00 target price on the stock. The Goldman Sachs Group increased their price target on shares of Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company increased their target price on Roblox from $54.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.30.

Roblox Trading Up 3.3 %

Shares of RBLX opened at $52.86 on Monday. The stock has a market capitalization of $32.12 billion, a P/E ratio of -32.23 and a beta of 1.56. Roblox has a twelve month low of $29.55 and a twelve month high of $53.07. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm has a fifty day simple moving average of $43.93 and a two-hundred day simple moving average of $39.59.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.02. The company had revenue of $919.00 million for 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%. Roblox’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the firm earned ($0.45) earnings per share. On average, research analysts anticipate that Roblox will post -1.58 EPS for the current year.

Insider Activity

In related news, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value 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 approximately $14,543,253.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the sale, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $14,543,253.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.90, for a total transaction of $115,639.40. Following the transaction, the chief accounting officer now owns 91,062 shares in the company, valued at $4,817,179.80. This represents a 0.00 % decrease in their position. 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 over the last 90 days. 22.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roblox

A number of large investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale boosted its stake in shares of Roblox by 2.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock worth $2,318,000 after buying an additional 1,419 shares during the last quarter. Dragoneer Investment Group LLC grew its stake in shares of Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares during the period. Itau Unibanco Holding S.A. increased its position in shares of Roblox by 62.0% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 37,482 shares of the company’s stock valued at $1,395,000 after purchasing an additional 14,348 shares during the last quarter. Sei Investments Co. increased its position in shares of Roblox by 18.3% during the 1st quarter. Sei Investments Co. now owns 288,112 shares of the company’s stock valued at $11,000,000 after purchasing an additional 44,557 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Roblox by 319.6% in the 1st quarter. Acadian Asset Management LLC now owns 28,271 shares of the company’s stock worth $1,075,000 after purchasing an additional 21,533 shares during the period. Institutional investors own 91.08% of the company’s stock.

Roblox Company Profile

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.