Barclays Raises Roblox (NYSE:RBLX) Price Target to $40.00

Roblox (NYSE:RBLX) had its price target raised by Barclays from $35.00 to $40.00 in a report released on Friday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group initiated coverage on shares of Roblox in a research note on Thursday, July 11th. They issued a hold rating and a $42.00 target price for the company. Needham & Company LLC increased their target price on Roblox from $40.00 to $50.00 and gave the stock a buy rating in a report on Friday. Wells Fargo & Company lifted their price target on Roblox from $41.00 to $43.00 and gave the company an overweight rating in a report on Monday, July 8th. Roth Mkm increased their price objective on shares of Roblox from $35.00 to $42.00 and gave the stock a neutral rating in a report on Monday, July 29th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $53.00 target price on shares of Roblox in a research note on Monday, April 22nd. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $44.50.

Roblox Price Performance

NYSE RBLX traded down $2.40 during trading on Friday, reaching $36.64. 8,341,812 shares of the company traded hands, compared to its average volume of 7,409,474. Roblox has a 1-year low of $24.88 and a 1-year high of $47.20. The company has a market cap of $21.67 billion, a price-to-earnings ratio of -19.70 and a beta of 1.60. The stock’s 50 day moving average price is $37.48 and its two-hundred day moving average price is $38.06. The company has a debt-to-equity ratio of 16.04, a quick ratio of 1.07 and a current ratio of 1.07.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07. Roblox had a negative return on equity of 1,285.39% and a negative net margin of 34.12%. The firm had revenue of $893.50 million for the quarter, compared to analysts’ expectations of $897.88 million. During the same period in the prior year, the business posted ($0.46) earnings per share. The business’s revenue was up 31.2% compared to the same quarter last year. As a group, analysts anticipate that Roblox will post -1.66 EPS for the current year.

Insider Activity at Roblox

In related news, CAO Amy Marie Rawlings sold 3,910 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total value of $127,309.60. Following the completion of the transaction, the chief accounting officer now directly owns 98,457 shares of the company’s stock, valued at approximately $3,205,759.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Andrea L. Wong sold 5,276 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $31.13, for a total transaction of $164,241.88. Following the completion of the transaction, the director now owns 26,319 shares in the company, valued at $819,310.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amy Marie Rawlings sold 3,910 shares of Roblox stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total transaction of $127,309.60. Following the completion of the sale, the chief accounting officer now owns 98,457 shares in the company, valued at $3,205,759.92. The disclosure for this sale can be found here. In the last three months, insiders sold 476,889 shares of company stock worth $17,575,955. 22.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roblox

A number of institutional investors have recently modified their holdings of RBLX. Impact Partnership Wealth LLC boosted its holdings in Roblox by 392.8% in the 2nd quarter. Impact Partnership Wealth LLC now owns 6,485 shares of the company’s stock valued at $241,000 after purchasing an additional 5,169 shares during the period. PARK CIRCLE Co acquired a new stake in Roblox during the second quarter worth approximately $30,000. Rhumbline Advisers increased its stake in Roblox by 1.1% during the 2nd quarter. Rhumbline Advisers now owns 666,372 shares of the company’s stock worth $24,796,000 after acquiring an additional 7,102 shares during the period. CIBC Asset Management Inc raised its holdings in Roblox by 35.6% in the 2nd quarter. CIBC Asset Management Inc now owns 19,286 shares of the company’s stock valued at $718,000 after acquiring an additional 5,059 shares in the last quarter. Finally, Interchange Capital Partners LLC lifted its position in shares of Roblox by 45.5% during the 2nd quarter. Interchange Capital Partners LLC now owns 12,843 shares of the company’s stock valued at $478,000 after acquiring an additional 4,014 shares during the period. 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.