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

Roblox (NYSE:RBLX)‘s stock had its “strong-buy” rating restated by equities researchers at Raymond James in a research note issued to investors on Friday,Benzinga reports. They currently have a $60.00 price target on the stock. Raymond James’ target price would indicate a potential upside of 21.62% from the company’s current price.

RBLX has been the subject of a number of other reports. BTIG Research lifted their price objective on shares of Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Barclays raised 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. Canaccord Genuity Group increased their price target on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Benchmark boosted their price objective on shares of Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fourteen have issued 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 price target of $55.30.

Roblox Trading Down 4.2 %

Shares of RBLX stock opened at $49.34 on Friday. Roblox has a 52-week low of $29.55 and a 52-week high of $55.10. The business’s fifty day moving average is $45.93 and its 200 day moving average is $40.88. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $29.97 billion, a PE ratio of -30.08 and a beta of 1.56.

Roblox (NYSE:RBLX) last issued 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 firm had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.45) EPS. On average, equities research analysts anticipate that Roblox will post -1.56 EPS for the current fiscal year.

Insider Activity

In other Roblox news, insider Arvind Chakravarthy sold 592 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $43.32, for a total value of $25,645.44. Following the completion of the transaction, the insider now owns 276,892 shares in the company, valued at approximately $11,994,961.44. This represents a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony P. Lee sold 200,000 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the sale, the director now owns 4,707,579 shares in the company, valued at approximately $236,932,451.07. This trade represents a 4.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 960,444 shares of company stock valued at $45,566,664. Corporate insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several large investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in Roblox during the 3rd quarter valued at approximately $2,341,000. Toronto Dominion Bank grew its stake in shares of Roblox by 34.3% in the third quarter. Toronto Dominion Bank now owns 60,092 shares of the company’s stock worth $2,660,000 after acquiring an additional 15,333 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Roblox by 5.2% during the third quarter. Geode Capital Management LLC now owns 8,332,563 shares of the company’s stock valued at $368,003,000 after acquiring an additional 408,915 shares in the last quarter. M&T Bank Corp raised its position in shares of Roblox by 7.0% in the 3rd quarter. M&T Bank Corp now owns 20,105 shares of the company’s stock worth $889,000 after purchasing an additional 1,324 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Roblox by 7.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 130,750 shares of the company’s stock worth $5,787,000 after purchasing an additional 8,970 shares in the last quarter. 91.08% of the stock is currently owned by hedge funds and other 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.