Raymond James Reaffirms “Strong-Buy” Rating for Roblox (NYSE:RBLX)

Raymond James reiterated their strong-buy rating on shares of Roblox (NYSE:RBLX) in a research note released on Friday,Benzinga reports. They currently have a $60.00 price objective on the stock.

A number of other research firms also recently weighed in on RBLX. Barclays upped their price target on shares of Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Benchmark raised their price target on Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Roth Mkm boosted their price target on Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Wedbush reissued an “outperform” rating and issued a $49.00 target price on shares of Roblox in a research report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.30.

Roblox Trading Up 0.1 %

Shares of NYSE RBLX opened at $49.38 on Friday. 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 one year low of $29.55 and a one year high of $55.10. The business has a 50-day moving average price of $46.00 and a two-hundred day moving average price of $40.96. The firm has a market capitalization of $30.00 billion, a PE ratio of -30.11 and a beta of 1.56.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.02. The business 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 firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company posted ($0.45) earnings per share. As a group, analysts predict that Roblox will post -1.56 earnings per share for the current fiscal year.

Insider Activity

In other Roblox news, insider Arvind Chakravarthy sold 592 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was 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 in the company, valued at approximately $11,994,961.44. This trade represents a 0.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anthony P. Lee sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $50.33, for a total value of $10,066,000.00. Following the sale, the director now owns 4,707,579 shares in the company, valued at approximately $236,932,451.07. This represents a 4.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,011,095 shares of company stock valued at $48,171,645. 22.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roblox

Institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in shares of Roblox during the 3rd quarter worth about $27,000. Frazier Financial Advisors LLC lifted its stake in Roblox by 20,800.0% during the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after purchasing an additional 624 shares during the period. PARK CIRCLE Co bought a new stake in shares of Roblox in the 2nd quarter valued at approximately $30,000. Strategic Financial Concepts LLC acquired a new position in shares of Roblox in the 2nd quarter worth approximately $33,000. Finally, Gilliland Jeter Wealth Management LLC lifted its position in shares of Roblox by 102.4% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after buying 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.