Roblox (NYSE:RBLX) Given Strong-Buy Rating at Raymond James

Raymond James reissued their strong-buy rating on shares of Roblox (NYSE:RBLX) in a report issued on Friday,Benzinga reports. They currently have a $60.00 price target on the stock.

A number of other research firms have also recently commented on RBLX. The Goldman Sachs Group boosted their price objective on Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Canaccord Genuity Group boosted their price objective on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Piper Sandler boosted their price target on Roblox from $54.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. BMO Capital Markets reiterated an “outperform” rating and set a $62.00 price target (up from $56.00) on shares of Roblox in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Roblox from $45.00 to $60.00 and gave the stock 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. Based on data from MarketBeat, Roblox presently has an average rating of “Moderate Buy” and an average target price of $55.30.

Roblox Stock Up 0.1 %

Shares of NYSE:RBLX opened at $49.38 on Friday. Roblox has a 12-month low of $29.55 and a 12-month high of $55.10. The business has a 50 day moving average of $46.00 and a two-hundred day moving average of $40.94. 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 (NYSE:RBLX) last announced 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 company 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%. Roblox’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.45) earnings per share. As a group, research analysts expect that Roblox will post -1.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Amy Marie Rawlings sold 12,258 shares of the stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $44.09, for a total value of $540,455.22. Following the transaction, the chief accounting officer now owns 87,360 shares in the company, valued at approximately $3,851,702.40. This represents a 12.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Baszucki sold 166,666 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $45.56, for a total value of $7,593,302.96. Following the completion of the transaction, the chief executive officer now owns 135,755 shares in the company, valued at approximately $6,184,997.80. The trade was a 55.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,011,095 shares of company stock worth $48,171,645 in the last quarter. 22.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RBLX. Virtu Financial LLC purchased a new position in Roblox during the 3rd quarter worth approximately $2,341,000. Toronto Dominion Bank grew its stake in Roblox by 34.3% during the 3rd quarter. Toronto Dominion Bank now owns 60,092 shares of the company’s stock worth $2,660,000 after buying an additional 15,333 shares during the last quarter. Geode Capital Management LLC grew its stake in Roblox by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,332,563 shares of the company’s stock worth $368,003,000 after buying an additional 408,915 shares during the last quarter. M&T Bank Corp lifted its position in Roblox by 7.0% during the 3rd quarter. M&T Bank Corp now owns 20,105 shares of the company’s stock worth $889,000 after acquiring an additional 1,324 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in Roblox by 7.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 130,750 shares of the company’s stock worth $5,787,000 after acquiring an additional 8,970 shares during the period. Hedge funds and other 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.