Roblox’s (RBLX) “Outperform” Rating Reiterated at BMO Capital Markets

BMO Capital Markets reissued their outperform rating on shares of Roblox (NYSE:RBLX) in a research note released on Friday morning, Benzinga reports. The firm currently has a $62.00 target price on the stock, up from their prior target price of $56.00.

A number of other brokerages also recently issued reports on RBLX. Wedbush reiterated an “outperform” rating and set a $49.00 price target on shares of Roblox in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on shares of Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday. BTIG Research raised their price objective on shares of Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Friday. Wells Fargo & Company upped their target price on shares of Roblox from $46.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group raised their price target on Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Eight investment 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 stock. According to MarketBeat.com, Roblox has an average rating of “Moderate Buy” and an average price target of $52.55.

Roblox Price Performance

Shares of NYSE:RBLX opened at $51.44 on Friday. The company has a 50 day moving average of $43.67 and a 200 day moving average of $39.38. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. The stock has a market cap of $30.79 billion, a P/E ratio of -31.37 and a beta of 1.56. Roblox has a 12 month low of $29.55 and a 12 month high of $52.65.

Roblox (NYSE:RBLX) last released its quarterly 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. The firm had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 1,283.93%. The business’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, sell-side analysts forecast that Roblox will post -1.58 EPS for the current fiscal year.

Insider Transactions at Roblox

In other Roblox news, Director Anthony P. Lee sold 200,000 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the transaction, the director now directly owns 4,707,579 shares of the company’s stock, valued at approximately $236,932,451.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Roblox news, Director Anthony P. Lee sold 200,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $50.33, for a total value of $10,066,000.00. Following the completion of the sale, the director now directly owns 4,707,579 shares in the company, valued at $236,932,451.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO David Baszucki sold 166,668 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $42.15, for a total value of $7,025,056.20. Following the transaction, the chief executive officer now owns 135,755 shares in the company, valued at $5,722,073.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 979,341 shares of company stock worth $43,897,012. Company insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several institutional investors and hedge funds have recently added to or reduced their stakes in RBLX. Allspring Global Investments Holdings LLC boosted its stake in Roblox by 98.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock worth $42,000 after acquiring an additional 548 shares in the last quarter. Norden Group LLC bought a new stake in shares of Roblox in the 1st quarter worth approximately $230,000. Maryland State Retirement & Pension System boosted its position in shares of Roblox by 4.2% in the 1st quarter. Maryland State Retirement & Pension System now owns 36,877 shares of the company’s stock worth $1,343,000 after purchasing an additional 1,492 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Roblox by 4.4% in 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 increased its position in Roblox by 4.8% during the 1st quarter. Nordea Investment Management AB now owns 28,492 shares of the company’s stock valued at $1,104,000 after buying an additional 1,298 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.