Roblox (NYSE:RBLX) Earns “Outperform” Rating from BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of Roblox (NYSE:RBLX) in a research note issued to investors on Friday, Benzinga reports. BMO Capital Markets currently has a $62.00 target price on the stock, up from their previous target price of $56.00.

RBLX has been the subject of a number of other reports. Wolfe Research began coverage on Roblox in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Jefferies Financial Group began coverage on Roblox in a research note on Thursday, July 11th. They issued a “hold” rating and a $42.00 price objective for the company. Canaccord Genuity Group raised their price objective on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. Roth Mkm raised their price objective on Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Benchmark raised their price objective on Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roblox has an average rating of “Moderate Buy” and an average price target of $54.80.

Roblox Stock Performance

NYSE:RBLX opened at $50.00 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox has a 12-month low of $29.55 and a 12-month high of $53.07. The stock has a 50-day moving average price of $43.79 and a 200 day moving average price of $39.48.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the business posted ($0.45) earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts expect that Roblox will post -1.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mark Reinstra sold 12,000 shares of Roblox stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $40.00, for a total value of $480,000.00. Following the transaction, the insider now directly owns 342,656 shares in the company, valued at approximately $13,706,240. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction 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 transaction, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $14,543,253.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark Reinstra sold 12,000 shares of Roblox stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $40.00, for a total value of $480,000.00. Following the completion of the transaction, the insider now owns 342,656 shares in the company, valued at $13,706,240. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 989,341 shares of company stock worth $44,391,412 in the last ninety days. 22.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its stake in Roblox by 98.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock worth $42,000 after buying an additional 548 shares during the last quarter. Norden Group LLC purchased a new position in Roblox during the 1st quarter worth $230,000. Maryland State Retirement & Pension System grew its stake in Roblox by 4.2% during the 1st quarter. Maryland State Retirement & Pension System now owns 36,877 shares of the company’s stock worth $1,343,000 after buying an additional 1,492 shares during the last quarter. Private Advisor Group LLC grew its stake in Roblox by 4.4% during the 1st quarter. Private Advisor Group LLC now owns 60,111 shares of the company’s stock worth $2,295,000 after buying an additional 2,506 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in Roblox by 4.8% during the 1st quarter. Nordea Investment Management AB now owns 28,492 shares of the company’s stock worth $1,104,000 after buying an additional 1,298 shares during the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

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.