Roblox (NYSE:RBLX) Price Target Raised to $51.00

Roblox (NYSE:RBLX) had its target price upped by BTIG Research from $47.00 to $51.00 in a research report report published on Monday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

RBLX has been the topic of several other research reports. Roth Mkm boosted their price target on Roblox from $35.00 to $42.00 and gave the stock a neutral rating in a research report on Monday, July 29th. Wells Fargo & Company upped their price target on shares of Roblox from $41.00 to $43.00 and gave the stock an overweight rating in a research report on Monday, July 8th. Macquarie lifted their price objective on shares of Roblox from $46.00 to $50.00 and gave the company an outperform rating in a research report on Monday, August 5th. BMO Capital Markets reaffirmed an outperform rating and issued a $56.00 target price on shares of Roblox in a report on Tuesday, July 30th. Finally, Jefferies Financial Group assumed coverage on shares of Roblox in a research note on Thursday, July 11th. They issued a hold rating and a $42.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $44.40.

Roblox Price Performance

NYSE RBLX opened at $44.98 on Monday. The firm’s 50 day moving average is $40.90 and its 200-day moving average is $38.09. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. The company has a market capitalization of $26.60 billion, a PE ratio of -24.18 and a beta of 1.60. Roblox has a 12-month low of $24.88 and a 12-month high of $47.20.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.07. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The firm had revenue of $893.50 million for the quarter, compared to analyst estimates of $897.88 million. During the same period in the previous year, the business earned ($0.46) EPS. The company’s revenue was up 31.2% compared to the same quarter last year. Equities research analysts anticipate that Roblox will post -1.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Roblox

In related news, CEO David Baszucki sold 166,668 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $40.21, for a total value of $6,701,720.28. Following the transaction, the chief executive officer now owns 142,260 shares in the company, valued at $5,720,274.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO David Baszucki sold 166,668 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $40.21, for a total transaction of $6,701,720.28. Following the completion of the sale, the chief executive officer now owns 142,260 shares of the company’s stock, valued at approximately $5,720,274.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Manuel Bronstein sold 40,739 shares of Roblox stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $45.00, for a total transaction of $1,833,255.00. Following the completion of the transaction, the insider now directly owns 727,485 shares in the company, valued at $32,736,825. The disclosure for this sale can be found here. Insiders sold 589,852 shares of company stock valued at $24,563,854 in the last quarter. Company insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Institutional investors have recently modified their holdings of the business. Swedbank AB grew its position in Roblox by 0.5% in the second quarter. Swedbank AB now owns 53,297 shares of the company’s stock valued at $1,983,000 after acquiring an additional 285 shares during the last quarter. Thrive Wealth Management LLC lifted its stake in Roblox by 4.3% in the 2nd quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock valued at $274,000 after purchasing an additional 300 shares during the last quarter. Mystic Asset Management Inc. boosted its position in Roblox by 4.0% in the first quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock valued at $326,000 after buying an additional 325 shares in the last quarter. Center for Financial Planning Inc. grew its stake in shares of Roblox by 2.3% during the second quarter. Center for Financial Planning Inc. now owns 17,722 shares of the company’s stock worth $659,000 after buying an additional 400 shares during the last quarter. Finally, AlTi Global Inc. increased its holdings in shares of Roblox by 8.1% during the second quarter. AlTi Global Inc. now owns 5,917 shares of the company’s stock worth $220,000 after buying an additional 445 shares in the last quarter. Institutional investors and hedge funds own 91.08% 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.