Morgan Stanley Upgrades Roblox (NYSE:RBLX) to Overweight

Morgan Stanley upgraded shares of Roblox (NYSE:RBLX) from an equal weight rating to an overweight rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm currently has $65.00 price objective on the stock, up from their previous price objective of $38.00.

RBLX has been the subject of several other reports. Roth Mkm increased their price target on shares of Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. BTIG Research increased their target price on Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Citigroup increased their price objective on Roblox from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Needham & Company LLC boosted their target price on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.30.

Roblox Stock Up 0.4 %

Roblox stock opened at $53.11 on Monday. The stock has a market capitalization of $32.27 billion, a price-to-earnings ratio of -32.61 and a beta of 1.56. 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 stock has a 50 day moving average of $44.11 and a two-hundred day moving average of $39.68. Roblox has a twelve month low of $29.55 and a twelve month high of $53.66.

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 the consensus estimate of ($0.39) by $0.02. The firm 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 company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the company earned ($0.45) earnings per share. As a group, research analysts expect that Roblox will post -1.58 earnings per share for the current year.

Insiders Place Their Bets

In other Roblox news, insider Manuel Bronstein sold 37,846 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.03, for a total value of $1,969,127.38. Following the transaction, the insider now directly owns 674,259 shares in the company, valued at approximately $35,081,695.77. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Manuel Bronstein sold 37,846 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $52.03, for a total value of $1,969,127.38. Following the completion of the transaction, the insider now directly owns 674,259 shares in the company, valued at approximately $35,081,695.77. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amy Marie Rawlings sold 4,933 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the sale, the chief accounting officer now directly owns 99,617 shares in the company, valued at approximately $4,019,545.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,029,373 shares of company stock valued at $46,476,179. Corporate insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new position in Roblox in the third quarter valued at $27,000. Frazier Financial Advisors LLC lifted its stake in shares of Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after purchasing an additional 624 shares in the last quarter. PARK CIRCLE Co purchased a new stake in shares of Roblox during the 2nd quarter worth about $30,000. Strategic Financial Concepts LLC acquired a new stake in Roblox during the 2nd quarter worth approximately $33,000. Finally, Gilliland Jeter Wealth Management LLC raised its holdings in Roblox by 102.4% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after buying an additional 506 shares during the period. Institutional investors and hedge funds own 91.08% of the company’s stock.

About Roblox

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.