BTIG Research Forecasts Strong Price Appreciation for Roblox (NYSE:RBLX) Stock

Roblox (NYSE:RBLX) had its price target raised by equities research analysts at BTIG Research from $51.00 to $56.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target would indicate a potential upside of 8.32% from the company’s current price.

RBLX has been the topic of several other research reports. Wolfe Research started coverage on Roblox in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft raised their price target on Roblox from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Needham & Company LLC boosted their price objective on Roblox from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their price target on shares of Roblox from $46.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Roblox from $50.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.15.

Roblox Price Performance

Shares of RBLX stock opened at $51.70 on Friday. The firm’s 50 day moving average price is $43.53 and its two-hundred day moving average price is $39.23. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $30.94 billion, a PE ratio of -30.06 and a beta of 1.60. Roblox has a 52-week low of $29.55 and a 52-week high of $52.65.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.01. The firm had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.45) earnings per share. As a group, analysts forecast that Roblox will post -1.58 EPS for the current year.

Insider Buying and Selling

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the transaction, the chief financial officer now owns 374,633 shares in the company, valued at $14,543,253.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the sale, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $14,543,253.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amy Marie Rawlings sold 4,933 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the transaction, the chief accounting officer now owns 99,617 shares in the company, valued at approximately $4,019,545.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 779,341 shares of company stock valued at $33,831,012. Insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Roblox by 10.4% during the 1st quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock worth $1,950,322,000 after acquiring an additional 4,818,022 shares in the last quarter. Ieq Capital LLC boosted its holdings in shares of Roblox by 27.6% in the 1st quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock valued at $473,811,000 after purchasing an additional 2,684,713 shares in the last quarter. Dragoneer Investment Group LLC increased its stake in shares of Roblox by 26.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares during the last quarter. Greenvale Capital LLP acquired a new position in shares of Roblox during the 2nd quarter worth $89,304,000. Finally, Marshall Wace LLP bought a new position in Roblox in the second quarter valued at about $87,543,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.