Roblox (NYSE:RBLX) Coverage Initiated at HSBC

Equities research analysts at HSBC started coverage on shares of Roblox (NYSE:RBLX) in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $63.00 price target on the stock. HSBC’s price target would indicate a potential upside of 5.72% from the stock’s previous close.

RBLX has been the subject of a number of other reports. Raymond James reaffirmed a “strong-buy” rating and issued a $60.00 price objective on shares of Roblox in a research report on Friday, November 22nd. Needham & Company LLC upped their target price on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Morgan Stanley upgraded Roblox from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $38.00 to $65.00 in a research note on Monday, November 4th. Finally, The Goldman Sachs Group lifted their target price on Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.67.

Roblox Stock Down 0.0 %

RBLX stock opened at $59.59 on Thursday. The firm has a market capitalization of $36.20 billion, a PE ratio of -36.34 and a beta of 1.50. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox has a twelve month low of $29.55 and a twelve month high of $61.05. The stock’s 50 day moving average is $48.88 and its 200-day moving average is $43.16.

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

Insider Activity

In other Roblox news, CAO Amy Marie Rawlings sold 2,186 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $52.90, for a total value of $115,639.40. Following the completion of the transaction, the chief accounting officer now directly owns 91,062 shares of the company’s stock, valued at $4,817,179.80. This trade represents a 2.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David Baszucki sold 166,666 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $45.56, for a total transaction of $7,593,302.96. Following the completion of the transaction, the chief executive officer now directly owns 135,755 shares in the company, valued at approximately $6,184,997.80. The trade was a 55.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,457,267 shares of company stock worth $74,422,648. 22.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roblox

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Entropy Technologies LP boosted its position in shares of Roblox by 168.4% during the 3rd quarter. Entropy Technologies LP now owns 99,649 shares of the company’s stock valued at $4,410,000 after acquiring an additional 62,521 shares during the last quarter. Dragoneer Investment Group LLC lifted its position in Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares during the last quarter. Benjamin Edwards Inc. grew its stake in Roblox by 12,971.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 52,024 shares of the company’s stock worth $2,302,000 after buying an additional 51,626 shares in the last quarter. State Street Corp increased its holdings in shares of Roblox by 2.3% in the 3rd quarter. State Street Corp now owns 10,855,890 shares of the company’s stock worth $480,482,000 after buying an additional 240,565 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its position in shares of Roblox by 62.0% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 37,482 shares of the company’s stock valued at $1,395,000 after buying an additional 14,348 shares in the last quarter. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

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.