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

Roblox (NYSE:RBLX)‘s stock had its “strong-buy” rating reiterated by research analysts at Raymond James in a note issued to investors on Friday,Benzinga reports. They currently have a $60.00 price target on the stock. Raymond James’ price target would indicate a potential upside of 21.51% from the company’s previous close.

Several other research analysts have also recently issued reports on RBLX. Wedbush reaffirmed an “outperform” rating and issued a $49.00 price target on shares of Roblox in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Citigroup boosted their target price on shares of Roblox from $53.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Macquarie upped their target price on Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group boosted their price objective on Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.30.

Roblox Stock Performance

Shares of RBLX opened at $49.38 on Friday. Roblox has a 1 year low of $29.55 and a 1 year high of $55.10. The company has a market cap of $30.00 billion, a price-to-earnings ratio of -30.11 and a beta of 1.56. The firm has a fifty day moving average of $46.00 and a 200-day moving average of $40.95. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping 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 company had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business posted ($0.45) EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities analysts anticipate that Roblox will post -1.56 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Michael Guthrie sold 3,443 shares of Roblox stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $45.01, for a total transaction of $154,969.43. Following the completion of the sale, the chief financial officer now owns 352,844 shares in the company, valued at $15,881,508.44. The trade was a 0.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Arvind Chakravarthy sold 592 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $43.32, for a total value of $25,645.44. Following the completion of the sale, the insider now owns 276,892 shares of the company’s stock, valued at $11,994,961.44. This represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,011,095 shares of company stock worth $48,171,645 in the last quarter. 22.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roblox

Several institutional investors and hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of Roblox during the third quarter worth about $27,000. Frazier Financial Advisors LLC raised its stake in Roblox by 20,800.0% in the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after buying an additional 624 shares during the period. PARK CIRCLE Co bought a new position in Roblox during the second quarter worth $30,000. GAMMA Investing LLC grew its stake in Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after buying an additional 530 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC increased its stake 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.

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.