Roblox (NYSE:RBLX) Research Coverage Started at CICC Research

CICC Research began coverage on shares of Roblox (NYSE:RBLX) in a research note issued to investors on Tuesday,Benzinga reports. The brokerage issued an outperform rating on the stock.

A number of other equities research analysts have also recently commented on the company. Piper Sandler raised their target price on Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Wedbush reissued an “outperform” rating and issued a $49.00 price objective on shares of Roblox in a report on Friday, October 25th. 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. BTIG Research increased their target price on Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price target (up previously from $56.00) on shares of Roblox in a report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.48.

Roblox Trading Up 2.7 %

Shares of NYSE:RBLX opened at $65.45 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox has a 12-month low of $29.55 and a 12-month high of $66.51. The business has a 50 day moving average of $56.61 and a two-hundred day moving average of $47.23. The company has a market capitalization of $39.77 billion, a PE ratio of -39.91 and a beta of 1.43.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. The firm had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.45) EPS. As a group, analysts forecast that Roblox will post -1.56 EPS for the current year.

Insider Activity

In other Roblox news, CFO Michael Guthrie sold 10,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $49.44, for a total transaction of $494,400.00. Following the transaction, the chief financial officer now owns 352,844 shares of the company’s stock, valued at approximately $17,444,607.36. The trade was a 2.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark Reinstra sold 16,480 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $51.43, for a total value of $847,566.40. Following the completion of the sale, the insider now directly owns 278,161 shares of the company’s stock, valued at $14,305,820.23. This trade represents a 5.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,254,601 shares of company stock worth $65,622,735 over the last ninety days. Corporate insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several institutional investors and hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank raised its position in shares of Roblox by 34.3% during the 3rd quarter. Toronto Dominion Bank now owns 60,092 shares of the company’s stock valued at $2,660,000 after buying an additional 15,333 shares during the period. Entropy Technologies LP lifted its stake in shares of Roblox by 168.4% in the 3rd quarter. Entropy Technologies LP now owns 99,649 shares of the company’s stock valued at $4,410,000 after purchasing an additional 62,521 shares during the last quarter. Dragoneer Investment Group LLC grew its holdings in shares of Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after purchasing an additional 2,488,044 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of Roblox by 12,971.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 52,024 shares of the company’s stock worth $2,302,000 after purchasing an additional 51,626 shares during the period. Finally, State Street Corp increased its position in shares of Roblox by 2.3% during the 3rd quarter. State Street Corp now owns 10,855,890 shares of the company’s stock worth $480,482,000 after purchasing an additional 240,565 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

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.