Roblox (NYSE:RBLX) Now Covered by HSBC

HSBC began coverage on shares of Roblox (NYSE:RBLX) in a report issued on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $63.00 target price on the stock.

RBLX has been the topic of several other reports. Piper Sandler raised their price objective on Roblox from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Macquarie increased their target price on Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Raymond James reaffirmed a “strong-buy” rating and set a $60.00 target price on shares of Roblox in a research report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft increased their target price on Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, The Goldman Sachs Group increased their target price on Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Roblox presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.67.

Roblox Price Performance

Shares of NYSE RBLX opened at $59.69 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The business’s 50 day moving average price is $48.52 and its 200-day moving average price is $42.97. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $61.05.

Roblox (NYSE:RBLX) last issued its quarterly earnings results 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. The firm had revenue of $919.00 million for the quarter, compared to the consensus estimate of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.45) earnings per share. As a group, equities research analysts forecast that Roblox will post -1.56 earnings per share for the current year.

Insiders Place Their Bets

In other Roblox news, CEO David Baszucki sold 333,334 shares of Roblox stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $57.31, for a total transaction of $19,103,371.54. Following the completion of the transaction, the chief executive officer now owns 129,295 shares in the company, valued at approximately $7,409,896.45. This trade represents a 72.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amy Marie Rawlings sold 2,186 shares of Roblox stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.90, for a total value of $115,639.40. Following the transaction, the chief accounting officer now owns 91,062 shares of the company’s stock, valued at $4,817,179.80. The trade was a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,412,379 shares of company stock valued at $71,728,919. 22.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roblox

Institutional investors have recently modified their holdings of the stock. Swedbank AB increased its stake in shares of Roblox by 0.5% in the 2nd quarter. Swedbank AB now owns 53,297 shares of the company’s stock valued at $1,983,000 after purchasing an additional 285 shares in the last quarter. Coronation Fund Managers Ltd. purchased a new position in shares of Roblox in the 2nd quarter valued at about $2,663,000. Blue Trust Inc. increased its stake in shares of Roblox by 1,836.5% in the 2nd quarter. Blue Trust Inc. now owns 3,931 shares of the company’s stock valued at $150,000 after purchasing an additional 3,728 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Roblox by 17.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,984,817 shares of the company’s stock valued at $371,535,000 after purchasing an additional 1,491,726 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Roblox by 44.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,593 shares of the company’s stock valued at $96,000 after purchasing an additional 804 shares in the last quarter. Hedge funds and other institutional investors 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.