Roblox (NYSE:RBLX) Rating Reiterated by BMO Capital Markets

Roblox (NYSE:RBLX)‘s stock had its “outperform” rating reaffirmed by stock analysts at BMO Capital Markets in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $56.00 price target on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 36.69% from the stock’s previous close.

RBLX has been the topic of several other research reports. BTIG Research lowered their target price on Roblox from $54.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Wolfe Research initiated coverage on Roblox in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Wedbush reiterated an “outperform” rating and set a $46.00 price target on shares of Roblox in a report on Monday. The Goldman Sachs Group lowered their price objective on Roblox from $48.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Finally, Canaccord Genuity Group lowered their price objective on Roblox from $56.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.91.

Roblox Stock Up 1.0 %

Shares of RBLX stock traded up $0.40 during mid-day trading on Tuesday, reaching $40.97. 2,286,390 shares of the company were exchanged, compared to its average volume of 7,325,043. Roblox has a fifty-two week low of $24.88 and a fifty-two week high of $47.20. The company has a debt-to-equity ratio of 16.04, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $24.23 billion, a P/E ratio of -22.02 and a beta of 1.59. The business’s 50 day simple moving average is $36.88 and its 200 day simple moving average is $38.05.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, May 9th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. Roblox had a negative return on equity of 1,110.40% and a negative net margin of 39.19%. The company had revenue of $923.76 million for the quarter, compared to analysts’ expectations of $918.85 million. During the same period last year, the business posted ($0.44) earnings per share. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. Research analysts predict that Roblox will post -1.66 earnings per share for the current year.

Insider Transactions at Roblox

In other Roblox news, insider Arvind Chakravarthy sold 18,165 shares of Roblox stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total transaction of $591,452.40. Following the sale, the insider now directly owns 322,966 shares of the company’s stock, valued at approximately $10,515,772.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Arvind Chakravarthy sold 18,165 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total value of $591,452.40. Following the transaction, the insider now directly owns 322,966 shares of the company’s stock, valued at approximately $10,515,772.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrea L. Wong sold 5,276 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $31.13, for a total value of $164,241.88. Following the completion of the transaction, the director now directly owns 26,319 shares in the company, valued at $819,310.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 476,889 shares of company stock worth $17,575,955. Company insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in Roblox in the 4th quarter worth about $25,000. Gilliland Jeter Wealth Management LLC grew its holdings in Roblox by 102.4% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after purchasing an additional 506 shares during the last quarter. Washington Trust Advisors Inc. purchased a new position in Roblox in the first quarter worth $39,000. Blue Trust Inc. grew its holdings in Roblox by 566.5% in the fourth quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock worth $49,000 after purchasing an additional 912 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Roblox during the first quarter valued at $52,000. Institutional investors own 91.08% of the company’s stock.

About Roblox

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.