Morgan Stanley Boosts Roblox (NYSE:RBLX) Price Target to $75.00

Roblox (NYSE:RBLX) had its price target increased by stock analysts at Morgan Stanley from $65.00 to $75.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 20.58% from the stock’s previous close.

A number of other research firms have also weighed in on RBLX. HSBC initiated coverage on Roblox in a research note on Thursday, December 12th. They set a “buy” rating and a $63.00 price objective on the stock. Citigroup raised their price objective 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. Barclays boosted their target price on shares of Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Needham & Company LLC raised their price target on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Benchmark upped their price objective on Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.62.

Roblox Price Performance

Roblox stock opened at $62.20 on Monday. The company has a fifty day simple moving average of $56.39 and a 200-day simple moving average of $47.12. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm has a market capitalization of $37.79 billion, a price-to-earnings ratio of -37.93 and a beta of 1.43. Roblox has a 52-week low of $29.55 and a 52-week high of $63.58.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) 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 net margin of 30.90% and a negative return on equity of 986.36%. Roblox’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.45) EPS. On average, equities analysts anticipate that Roblox will post -1.56 EPS for the current fiscal year.

Insider Buying and Selling at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 3,601 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $49.32, for a total transaction of $177,601.32. Following the sale, the chief accounting officer now owns 81,407 shares in the company, valued at $4,014,993.24. This represents a 4.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Baszucki sold 166,668 shares of Roblox stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $42.15, for a total value of $7,025,056.20. Following the completion of the transaction, the chief executive officer now owns 135,755 shares of the company’s stock, valued at $5,722,073.25. The trade was a 55.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,254,601 shares of company stock valued at $65,622,735 in the last 90 days. Company insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

Several hedge funds have recently added to or reduced their stakes in the company. Apella Capital LLC acquired a new position in Roblox during the 4th quarter worth approximately $224,000. Pallas Capital Advisors LLC grew its stake in shares of Roblox by 101.5% during the fourth quarter. Pallas Capital Advisors LLC now owns 20,911 shares of the company’s stock worth $1,210,000 after purchasing an additional 10,535 shares in the last quarter. Friedenthal Financial purchased a new position in Roblox in the fourth quarter valued at $763,000. Claro Advisors LLC acquired a new stake in Roblox in the fourth quarter valued at $205,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Roblox by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,249 shares of the company’s stock worth $2,040,000 after buying an additional 398 shares during 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.