Roblox Co. (NYSE:RBLX) Receives $55.30 Consensus PT from Analysts

Shares of Roblox Co. (NYSE:RBLX) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-two ratings firms that are covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $55.30.

RBLX has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lifted their target price on Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Raymond James restated a “strong-buy” rating and issued a $60.00 price objective on shares of Roblox in a report on Friday, November 22nd. Morgan Stanley upgraded shares of Roblox from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $38.00 to $65.00 in a report on Monday, November 4th. Canaccord Genuity Group boosted their price target on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Piper Sandler increased their price objective on Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, November 1st.

Insider Activity

In related news, Director Anthony P. Lee sold 25,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $51.19, for a total value of $1,279,750.00. Following the completion of the sale, the director now owns 5,706,695 shares in the company, valued at $292,125,717.05. This represents a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $52.90, for a total transaction of $115,639.40. Following the transaction, the chief accounting officer now directly owns 91,062 shares in the company, valued at $4,817,179.80. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,038,607 shares of company stock valued at $49,713,872. Insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in Roblox in the 3rd quarter valued at $533,000. World Investment Advisors LLC purchased a new stake in shares of Roblox in the third quarter valued at about $204,000. Virtu Financial LLC acquired a new position in shares of Roblox during the third quarter worth about $2,341,000. Toronto Dominion Bank raised its holdings in Roblox by 34.3% during the third quarter. Toronto Dominion Bank now owns 60,092 shares of the company’s stock worth $2,660,000 after purchasing an additional 15,333 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Roblox by 5.2% in the third quarter. Geode Capital Management LLC now owns 8,332,563 shares of the company’s stock valued at $368,003,000 after purchasing an additional 408,915 shares during the period. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Price Performance

Roblox stock opened at $53.50 on Wednesday. The company’s 50 day simple moving average is $46.49 and its 200-day simple moving average is $41.73. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. Roblox has a 1 year low of $29.55 and a 1 year high of $55.10. The company has a market capitalization of $32.50 billion, a price-to-earnings ratio of -32.62 and a beta of 1.50.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The company had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the firm earned ($0.45) earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts expect that Roblox will post -1.56 earnings per share for the current year.

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.