Equity researchers at Morgan Stanley have upgraded Roblox from an “underweight” rating to an “equal weight” rating. The price objective for the stock has been increased to $30.00, up from the previous price objective of $26.00. This new target price suggests a potential upside of 1.83% from the stock’s previous close.
Other equities research analysts have also weighed in on the company. Barclays increased their price target to $32.00, while Roth Mkm raised Roblox from a “neutral” rating to a “buy” rating and increased their price target to $48.00. BTIG Research raised their target price to $60.00, and Benchmark upgraded Roblox from a “hold” rating to a “buy” rating with a target price of $45.00. Roth Capital also upgraded Roblox from a “neutral” rating to a “buy” rating.
Currently, the stock has an average rating of “Hold” and a consensus price target of $40.65.
Roblox opened at $29.46 on Thursday. The company has a market cap of $16.52 billion and a debt-to-equity ratio of 4.03. The stock’s fifty day moving average price is $40.25, and its 200 day moving average price is $40.13. The 1 year low for Roblox is $25.32, and the 1 year high is $53.88.
In its latest earnings report, Roblox reported an earnings per share of ($0.44) for the quarter, missing the consensus estimate of ($0.42). The company had revenue of $773.82 million, compared to analyst estimates of $764.74 million. Roblox’s net margin was -44.06% and the return on equity was -270.57%. For the current year, equities research analysts forecast that Roblox will post earnings per share of -1.82.
In other news, CFO Michael Guthrie and insider Craig Donato both sold shares of Roblox stock.
Several institutional investors have recently modified their holdings of Roblox. Cetera Investment Advisers, Dimensional Fund Advisors LP, Spotlight Asset Group Inc., Canada Pension Plan Investment Board, and Kennicott Capital Management LLC have all increased their positions in the company.
Roblox Corporation is an online entertainment platform that offers a variety of tools for developers and creators. It allows users to build, publish, and operate 3D experiences and other content. The company also provides learning experiences through Roblox Education and services and infrastructure through Roblox Cloud.
Source: claytoncountyregister.com
