Roblox (NYSE:RBLX) Upgraded to Peer Perform at Wolfe Research

Wolfe Research upgraded shares of Roblox (NYSE:RBLX) from an underperform rating to a peer perform rating in a research note published on Friday, Marketbeat reports.

Other equities research analysts also recently issued reports about the company. DA Davidson lowered their price target on Roblox from $55.00 to $45.00 and set a buy rating for the company in a report on Thursday, August 10th. Raymond James boosted their price target on Roblox from $41.00 to $47.00 and gave the company a strong-buy rating in a report on Thursday, November 9th. JPMorgan Chase & Co. boosted their price target on Roblox from $33.00 to $37.00 and gave the company a neutral rating in a report on Thursday, November 16th. Morgan Stanley upgraded Roblox from an underweight rating to an equal weight rating and boosted their price target for the company from $26.00 to $30.00 in a report on Thursday, August 10th. Finally, Truist Financial upgraded Roblox from a hold rating to a buy rating and boosted their price objective for the company from $35.00 to $37.00 in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $41.25.

Roblox Price Performance

RBLX stock opened at $37.84 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 8.38. Roblox has a 52-week low of $24.88 and a 52-week high of $47.65. The stock’s 50 day moving average is $31.50 and its two-hundred day moving average is $35.12. The company has a market capitalization of $21.71 billion, a PE ratio of -20.68 and a beta of 1.56.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Wednesday, November 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.07. Roblox had a negative return on equity of 536.12% and a negative net margin of 42.54%. The company had revenue of $839.45 million for the quarter, compared to the consensus estimate of $824.71 million. During the same period in the previous year, the business earned ($0.50) EPS. Roblox’s revenue for the quarter was up 19.6% compared to the same quarter last year. Analysts predict that Roblox will post -1.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Roblox news, Director Gregory Baszucki sold 8,333 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $27.03, for a total value of $225,240.99. Following the sale, the director now directly owns 9,855,268 shares in the company, valued at $266,387,894.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Roblox news, Director Gregory Baszucki sold 8,333 shares of Roblox stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $27.03, for a total value of $225,240.99. Following the transaction, the director now owns 9,855,268 shares in the company, valued at $266,387,894.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark Reinstra sold 4,000 shares of the stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $30.62, for a total value of $122,480.00. Following the sale, the insider now owns 320,763 shares of the company’s stock, valued at approximately $9,821,763.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,999 shares of company stock worth $824,452. 27.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roblox

A number of institutional investors and hedge funds have recently modified their holdings of RBLX. AlphaQ Advisors LLC raised its stake in Roblox by 1.0% during the 1st quarter. AlphaQ Advisors LLC now owns 27,304 shares of the company’s stock valued at $1,228,000 after purchasing an additional 279 shares during the period. Edmond DE Rothschild Holding S.A. raised its stake in Roblox by 4.9% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 6,218 shares of the company’s stock valued at $280,000 after purchasing an additional 291 shares during the period. Parallel Advisors LLC raised its stake in Roblox by 27.2% during the 1st quarter. Parallel Advisors LLC now owns 1,388 shares of the company’s stock valued at $62,000 after purchasing an additional 297 shares during the period. Wetherby Asset Management Inc. raised its stake in Roblox by 7.4% during the 1st quarter. Wetherby Asset Management Inc. now owns 4,366 shares of the company’s stock valued at $202,000 after purchasing an additional 300 shares during the period. Finally, Gladstone Institutional Advisory LLC raised its stake in Roblox by 3.3% during the 1st quarter. Gladstone Institutional Advisory LLC now owns 9,408 shares of the company’s stock valued at $423,000 after purchasing an additional 301 shares during the period. 69.92% of the stock is owned by institutional investors and hedge funds.

Roblox Company Profile

Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.