Fintel reports that on November 4, 2024, Morgan Stanley upgraded their outlook for Roblox (NYSE:RBLX) from Equal-Weight to Overweight.
Analyst Price Forecast Suggests 9.38% Downside
As of October 22, 2024, the average one-year price target for Roblox is $46.62/share. The forecasts range from a low of $26.26 to a high of $63.00. The average price target represents a decrease of 9.38% from its latest reported closing price of $51.44 / share.
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The projected annual revenue for Roblox is 3,744MM, an increase of 11.30%. The projected annual non-GAAP EPS is -1.86.
What is the Fund Sentiment?
There are 1,071 funds or institutions reporting positions in Roblox. This is an increase of 25 owner(s) or 2.39% in the last quarter. Average portfolio weight of all funds dedicated to RBLX is 0.41%, an increase of 6.21%. Total shares owned by institutions increased in the last three months by 1.55% to 476,371K shares. 
The put/call ratio of RBLX is 0.76, indicating a bullish outlook.
What are Other Shareholders Doing?
Altos Ventures Management holds 43,943K shares representing 7.23% ownership of the company. In its prior filing, the firm reported owning 44,122K shares , representing a decrease of 0.41%.
Baillie Gifford holds 29,143K shares representing 4.80% ownership of the company. In its prior filing, the firm reported owning 28,607K shares , representing an increase of 1.84%. The firm decreased its portfolio allocation in RBLX by 61.30% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 15,918K shares representing 2.62% ownership of the company. In its prior filing, the firm reported owning 17,413K shares , representing a decrease of 9.39%. The firm decreased its portfolio allocation in RBLX by 13.36% over the last quarter.
Temasek Holdings holds 14,019K shares representing 2.31% ownership of the company. In its prior filing, the firm reported owning 13,710K shares , representing an increase of 2.20%. The firm decreased its portfolio allocation in RBLX by 16.42% over the last quarter.
ARK Investment Management holds 11,841K shares representing 1.95% ownership of the company. In its prior filing, the firm reported owning 13,339K shares , representing a decrease of 12.65%. The firm increased its portfolio allocation in RBLX by 8.83% over the last quarter.
Roblox Background Information
(This description is provided by the company.)
Roblox's mission is to build a human co-experience platform that enables shared experiences among billions of users. Every day, more than 36 million people around the world have fun with friends as they explore millions of immersive digital experiences. All of these experiences are built by the Roblox community, made up of over five million creators. Roblox believes in building a safe, civil, and diverse community-one that inspires and fosters creativity and positive relationships between people around the world.
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This story originally appeared on Fintel.
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