Roblox (NYSE:RBLX) Coverage Initiated by Analysts at CICC Research

Equities researchers at CICC Research began coverage on shares of Roblox (NYSE:RBLX) in a research note issued to investors on Tuesday,Benzinga reports. The firm set an “outperform” rating on the stock.

RBLX has been the topic of a number of other research reports. BTIG Research boosted their price objective on shares of Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Raymond James reiterated a “strong-buy” rating and issued a $60.00 price target on shares of Roblox in a research note on Friday, November 22nd. Needham & Company LLC raised their price objective on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Benchmark upped their target price on Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Citigroup increased their target price on Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.62.

Roblox Price Performance

Shares of NYSE RBLX opened at $61.31 on Tuesday. The company has a market capitalization of $37.25 billion, a price-to-earnings ratio of -37.38 and a beta of 1.43. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. Roblox has a 1-year low of $29.55 and a 1-year high of $63.58. The business has a 50-day moving average of $56.17 and a 200-day moving average of $46.94.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The company had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the company earned ($0.45) earnings per share. Roblox’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities analysts anticipate that Roblox will post -1.56 EPS for the current fiscal year.

Insider Activity

In other Roblox news, insider Manuel Bronstein sold 37,846 shares of the business’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 sale, the insider now directly owns 674,259 shares in the company, valued at approximately $35,081,695.77. The trade was a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amy Marie Rawlings sold 2,186 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.90, for a total transaction of $115,639.40. Following the transaction, the chief accounting officer now owns 91,062 shares of the company’s stock, valued at approximately $4,817,179.80. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,254,601 shares of company stock worth $65,622,735 over the last three months. Corporate insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc raised its position in shares of Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares during the period. Impact Partnership Wealth LLC increased its stake in Roblox by 3.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after purchasing an additional 245 shares in the last quarter. GAMMA Investing LLC raised its holdings in Roblox by 29.2% during the 4th quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $69,000 after buying an additional 271 shares during the period. Metis Global Partners LLC lifted its stake in Roblox by 5.0% during the third quarter. Metis Global Partners LLC now owns 6,003 shares of the company’s stock valued at $266,000 after buying an additional 288 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Roblox by 5.0% in the third quarter. Oppenheimer & Co. Inc. now owns 6,691 shares of the company’s stock worth $296,000 after buying an additional 321 shares during the period. 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.