Roblox (NYSE:RBLX) Receives Strong-Buy Rating from Raymond James

Raymond James restated their strong-buy rating on shares of Roblox (NYSE:RBLX) in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a $60.00 price target on the stock.

RBLX has been the subject of a number of other reports. Benchmark increased 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. Macquarie increased their price objective on shares of Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Morgan Stanley upgraded Roblox from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $38.00 to $65.00 in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.30.

Roblox Stock Up 0.1 %

Roblox stock opened at $49.38 on Friday. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. Roblox has a 12-month low of $29.55 and a 12-month high of $55.10. The firm has a 50 day moving average of $46.00 and a 200 day moving average of $40.94.

Roblox (NYSE:RBLX) last announced its quarterly earnings data 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. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The business had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the firm posted ($0.45) EPS. The company’s revenue was up 9.5% on a year-over-year basis. On average, analysts expect that Roblox will post -1.56 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Roblox

Institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in Roblox in the third quarter worth about $27,000. Frazier Financial Advisors LLC lifted its holdings in shares of Roblox by 20,800.0% during the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after purchasing an additional 624 shares during the period. PARK CIRCLE Co acquired a new stake in shares of Roblox during the second quarter worth about $30,000. Strategic Financial Concepts LLC acquired a new stake in shares of Roblox during the second quarter worth about $33,000. Finally, Gilliland Jeter Wealth Management LLC lifted its holdings in shares of Roblox by 102.4% during 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 period. Institutional investors and hedge funds 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.