Roblox (NYSE:RBLX) Upgraded by Morgan Stanley to Overweight Rating

Morgan Stanley upgraded shares of Roblox (NYSE:RBLX - Free Report) from an equal weight rating to an overweight rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has $65.00 price target on the stock, up from their prior price target of $38.00.

Several other analysts have also recently issued reports on the stock. BTIG Research increased their price target on shares of Roblox from $51.00 to $56.00 and gave the stock a "buy" rating in a research report on Friday. Raymond James upped their price target on Roblox from $51.00 to $60.00 and gave the company a "strong-buy" rating in a report on Thursday. Jefferies Financial Group assumed coverage on shares of Roblox in a report on Thursday, July 11th. They set a "hold" rating and a $42.00 price objective on the stock. Piper Sandler upped their target price on shares of Roblox from $54.00 to $65.00 and gave the company an "overweight" rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Roblox from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.80.

Roblox Trading Down 2.8 %

Roblox stock traded down $1.44 during midday trading on Monday, hitting $50.00. 19,482,760 shares of the stock were exchanged, compared to its average volume of 7,464,602. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. The stock has a market capitalization of $29.93 billion, a price-to-earnings ratio of -30.71 and a beta of 1.56. The stock's 50-day simple moving average is $43.67 and its 200 day simple moving average is $39.38. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $53.07.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data 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. Roblox had a negative return on equity of 1,283.93% and a negative net margin of 30.90%. The company had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business posted ($0.45) earnings per share. The firm's revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that Roblox will post -1.58 EPS for the current year.

Insider Transactions at Roblox

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the sale, the chief financial officer now owns 374,633 shares of the company's stock, valued at approximately $14,543,253.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Michael Guthrie sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the transaction, the chief financial officer now directly owns 374,633 shares of the company's stock, valued at $14,543,253.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Reinstra sold 17,000 shares of Roblox stock in a transaction on Monday, August 19th. The stock was sold at an average price of $40.47, for a total value of $687,990.00. Following the transaction, the insider now directly owns 342,656 shares of the company's stock, valued at approximately $13,867,288.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 979,341 shares of company stock valued at $43,897,012. Corporate insiders own 22.15% of the company's stock.

Hedge Funds Weigh In On Roblox

Several hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new stake in shares of Roblox in the third quarter valued at $27,000. PARK CIRCLE Co acquired a new stake in shares of Roblox in the second quarter worth approximately $30,000. Strategic Financial Concepts LLC purchased a new stake in Roblox in the second quarter valued at approximately $33,000. Gilliland Jeter Wealth Management LLC increased its position in Roblox by 102.4% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company's stock worth $37,000 after purchasing an additional 506 shares during the last quarter. Finally, Washington Trust Advisors Inc. purchased a new position in Roblox during the first quarter worth approximately $39,000. 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.