BTIG Research Raises Roblox (NYSE:RBLX) Price Target to $56.00

Roblox (NYSE:RBLX) had its target price upped by 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.

Other research analysts have also recently issued reports about the company. Wolfe Research initiated coverage on Roblox in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Roth Mkm boosted their price objective on Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Benchmark raised their target price on shares of Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Citigroup boosted their price target on shares of Roblox from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Barclays raised their price objective on shares of Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Roblox has an average rating of “Moderate Buy” and an average target price of $52.55.

Roblox Stock Performance

NYSE RBLX opened at $51.44 on Friday. The company has a market cap of $30.79 billion, a P/E ratio of -31.37 and a beta of 1.56. Roblox has a 1-year low of $29.55 and a 1-year high of $52.65. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a 50-day moving average of $43.67 and a two-hundred day moving average of $39.38.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.01. Roblox had a negative net margin of 30.90% and a negative return on equity of 1,283.93%. The firm had revenue of $919.00 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm earned ($0.45) EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, analysts anticipate that Roblox will post -1.58 EPS for the current year.

Insider Buying and Selling

In other news, CAO Amy Marie Rawlings sold 4,933 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the sale, the chief accounting officer now directly owns 99,617 shares of the company’s stock, valued at approximately $4,019,545.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Roblox news, insider Mark Reinstra sold 12,000 shares of the business’s 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 transaction, the insider now directly owns 342,656 shares of the company’s stock, valued at approximately $13,706,240. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction of $199,046.55. Following the completion of the sale, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at $4,019,545.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 979,341 shares of company stock worth $43,897,012 in the last 90 days. Company insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Impact Partnership Wealth LLC increased its position in Roblox by 3.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after purchasing an additional 245 shares during the period. Swedbank AB lifted its holdings in shares of Roblox by 0.5% in the 2nd quarter. Swedbank AB now owns 53,297 shares of the company’s stock valued at $1,983,000 after buying an additional 285 shares during the period. Thrive Wealth Management LLC boosted its stake in shares of Roblox by 4.3% in the second quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock valued at $274,000 after buying an additional 300 shares in the last quarter. Mystic Asset Management Inc. grew its holdings in Roblox by 4.0% during the first quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock worth $326,000 after acquiring an additional 325 shares during the period. Finally, Atomi Financial Group Inc. raised its position in Roblox by 0.3% in the third quarter. Atomi Financial Group Inc. now owns 136,658 shares of the company’s stock worth $6,048,000 after acquiring an additional 380 shares in the last quarter. 91.08% of the stock is 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.