Roblox (NYSE:RBLX) Upgraded 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.

Several other brokerages have also issued reports on RBLX. Piper Sandler raised their price target on shares of Roblox from $54.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company raised 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. BTIG Research upped their price target on Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Citigroup lifted their price objective on Roblox from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Roth Mkm upped their price objective on shares of Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Seven investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.30.

Roblox Stock Performance

Shares of RBLX opened at $52.86 on Monday. The stock has a 50 day moving average of $43.93 and a 200 day moving average of $39.59. 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 $53.07. The company has a market capitalization of $32.12 billion, a price-to-earnings ratio of -32.23 and a beta of 1.56.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates 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%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.45) EPS. As a group, sell-side analysts forecast that Roblox will post -1.58 earnings per share for the current year.

Insider Transactions at Roblox

In other Roblox 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 sale, the chief accounting officer now directly owns 99,617 shares in the company, valued at $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 available through this hyperlink. In other news, CAO Amy Marie Rawlings sold 4,933 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 transaction of $199,046.55. Following the sale, the chief accounting officer now owns 99,617 shares in the company, valued at approximately $4,019,545.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 374,633 shares of the company’s stock, valued at $14,543,253.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,029,373 shares of company stock valued at $46,476,179. 22.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roblox

Several institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in Roblox in the third quarter worth approximately $27,000. Frazier Financial Advisors LLC boosted its stake in shares of Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after purchasing an additional 624 shares in the last quarter. PARK CIRCLE Co bought a new position in shares of Roblox during the 2nd quarter valued at $30,000. GAMMA Investing LLC raised its position in Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after purchasing an additional 530 shares during the period. Finally, Gilliland Jeter Wealth Management LLC lifted its stake in 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 purchasing an additional 506 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors.

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.