Roblox (NYSE:RBLX) Coverage Initiated at CICC Research

Investment analysts at CICC Research initiated coverage on shares of Roblox (NYSE:RBLX) in a report released on Tuesday,Benzinga reports. The firm set an “outperform” rating on the stock.

Several other research analysts have also weighed in on RBLX. The Goldman Sachs Group upped their price objective on shares of Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price target (up from $56.00) on shares of Roblox in a research note on Friday, November 1st. Wedbush reiterated an “outperform” rating and set a $49.00 price objective on shares of Roblox in a report on Friday, October 25th. BTIG Research boosted their target price on Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company upped 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, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.62.

Roblox Stock Performance

Shares of RBLX stock opened at $61.31 on Tuesday. The company has a market capitalization of $37.25 billion, a price-to-earnings ratio of -37.38 and a beta of 1.43. Roblox has a 1-year low of $29.55 and a 1-year high of $63.58. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The stock’s fifty day simple moving average is $56.17 and its 200-day simple moving average is $46.94.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating 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%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.45) EPS. On average, sell-side analysts predict that Roblox will post -1.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mark Reinstra sold 16,480 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $51.43, for a total transaction of $847,566.40. Following the transaction, the insider now owns 278,161 shares in the company, valued at approximately $14,305,820.23. The trade was a 5.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Manuel Bronstein sold 44,888 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $60.01, for a total transaction of $2,693,728.88. Following the transaction, the insider now directly owns 573,266 shares of the company’s stock, valued at $34,401,692.66. This represents a 7.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,254,601 shares of company stock valued at $65,622,735 in the last quarter. Insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings in shares of Roblox by 83.9% during the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares in the last quarter. Impact Partnership Wealth LLC lifted its position in Roblox by 3.8% in the third quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after purchasing an additional 245 shares during the period. GAMMA Investing LLC boosted its stake in Roblox by 29.2% during the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $69,000 after buying an additional 271 shares in the last quarter. Metis Global Partners LLC increased its holdings in Roblox by 5.0% in the 3rd quarter. Metis Global Partners LLC now owns 6,003 shares of the company’s stock valued at $266,000 after buying an additional 288 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Roblox by 5.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,691 shares of the company’s stock valued at $296,000 after buying an additional 321 shares in the last quarter. Institutional investors and hedge funds own 94.46% 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.