Raymond James Reiterates Strong-Buy Rating for Roblox (NYSE:RBLX)

Roblox (NYSE:RBLX)‘s stock had its “strong-buy” rating restated by Raymond James in a research report issued on Friday,Benzinga reports. They presently have a $60.00 price target on the stock. Raymond James’ price objective would suggest a potential upside of 21.62% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Wedbush reaffirmed an “outperform” rating and issued a $49.00 price target on shares of Roblox in a research note on Friday, October 25th. Canaccord Genuity Group boosted their target price on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research 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 research note on Friday, November 1st. Benchmark lifted their price target on shares of Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets restated an “outperform” rating and set a $62.00 price objective (up previously from $56.00) on shares of Roblox in a report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Roblox currently has an average rating of “Moderate Buy” and an average price target of $55.30.

Roblox Stock Performance

Shares of Roblox stock opened at $49.34 on Friday. The business has a 50-day moving average price of $45.93 and a two-hundred day moving average price of $40.88. Roblox has a 1-year low of $29.55 and a 1-year high of $55.10. 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 company has a market cap of $29.97 billion, a P/E ratio of -30.08 and a beta of 1.56.

Roblox (NYSE:RBLX) last issued its 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. The business 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 firm’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, analysts anticipate that Roblox will post -1.56 EPS for the current year.

Insider Buying and Selling

In other Roblox news, Director Anthony P. Lee sold 200,000 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the completion of the transaction, the director now directly owns 4,707,579 shares of the company’s stock, valued at approximately $236,932,451.07. This represents a 4.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Baszucki sold 166,666 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $50.71, for a total value of $8,451,632.86. Following the completion of the sale, the chief executive officer now owns 135,755 shares in the company, valued at approximately $6,884,136.05. The trade was a 55.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 960,444 shares of company stock worth $45,566,664. Insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several large investors have recently modified their holdings of RBLX. ValueAct Holdings L.P. grew its stake in Roblox by 340.7% in the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock valued at $448,616,000 after buying an additional 7,835,921 shares in the last quarter. FMR LLC boosted its holdings in shares of Roblox by 24.5% in the third quarter. FMR LLC now owns 20,942,691 shares of the company’s stock worth $926,924,000 after acquiring an additional 4,115,286 shares during the period. Dragoneer Investment Group LLC grew its position in shares of Roblox by 26.9% in the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares in the last quarter. Whale Rock Capital Management LLC bought a new stake in shares of Roblox during the 3rd quarter valued at $107,491,000. Finally, Greenvale Capital LLP purchased a new stake in Roblox during the 2nd quarter worth about $89,304,000. 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.