Roblox Co. (NYSE:RBLX) Receives $42.14 Consensus Target Price from Brokerages

Roblox Co. (NYSE:RBLX) has been given an average rating of “Moderate Buy” by the twenty-four analysts that are currently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $42.14.

A number of research firms recently weighed in on RBLX. Piper Sandler reaffirmed an “overweight” rating and issued a $40.00 price target (down previously from $56.00) on shares of Roblox in a report on Friday, May 10th. Macquarie started coverage on Roblox in a report on Friday, June 14th. They set an “outperform” rating and a $46.00 target price for the company. Needham & Company LLC reduced their target price on Roblox from $55.00 to $40.00 and set a “buy” rating for the company in a report on Friday, May 10th. BMO Capital Markets reissued an “outperform” rating and set a $56.00 target price (down previously from $57.00) on shares of Roblox in a report on Monday, May 13th. Finally, Morgan Stanley reduced their target price on Roblox from $42.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, May 10th.

Roblox Stock Performance

NYSE RBLX opened at $37.77 on Friday. The stock has a market capitalization of $22.33 billion, a price-to-earnings ratio of -20.31 and a beta of 1.59. Roblox has a twelve month low of $24.88 and a twelve month high of $47.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 16.04. The stock has a 50-day moving average of $35.17 and a 200 day moving average of $38.61.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. The company had revenue of $923.76 million during the quarter, compared to analysts’ expectations of $918.85 million. Roblox had a negative return on equity of 1,110.40% and a negative net margin of 39.19%. Roblox’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.44) EPS. Sell-side analysts anticipate that Roblox will post -1.67 EPS for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, insider Mark Reinstra sold 4,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $36.69, for a total transaction of $146,760.00. Following the transaction, the insider now directly owns 359,453 shares in the company, valued at $13,188,330.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Roblox news, insider Mark Reinstra sold 4,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $36.69, for a total transaction of $146,760.00. Following the transaction, the insider now directly owns 359,453 shares in the company, valued at $13,188,330.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Baszucki sold 100,000 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $38.31, for a total value of $3,831,000.00. Following the completion of the sale, the chief executive officer now owns 148,845 shares in the company, valued at $5,702,251.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 384,221 shares of company stock worth $13,647,585. Insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

Several hedge funds have recently modified their holdings of RBLX. Allspring Global Investments Holdings LLC acquired a new stake in shares of Roblox in the fourth quarter valued at $25,000. Washington Trust Advisors Inc. acquired a new stake in shares of Roblox in the first quarter valued at $39,000. Blue Trust Inc. raised its stake in shares of Roblox by 566.5% in the fourth quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock valued at $49,000 after acquiring an additional 912 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Roblox in the first quarter valued at $52,000. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Roblox by 306.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,483 shares of the company’s stock valued at $56,000 after buying an additional 1,118 shares during the last quarter. 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.