Roblox Co. (NYSE:RBLX) Receives $44.15 Average Price Target from Brokerages

Shares of Roblox Co. (NYSE:RBLX) have earned a consensus rating of “Moderate Buy” from the twenty-two analysts that are presently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $44.15.

RBLX has been the subject of several analyst reports. Wedbush restated an “outperform” rating and set a $46.00 price target on shares of Roblox in a report on Monday, July 29th. The Goldman Sachs Group raised their price target on shares of Roblox from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Moffett Nathanson upgraded shares of Roblox from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $31.00 to $26.00 in a report on Friday, May 10th. Morgan Stanley lowered their price objective on shares of Roblox from $42.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. Finally, Macquarie lifted their price objective on shares of Roblox from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, August 5th.

Roblox Price Performance

NYSE:RBLX opened at $44.16 on Monday. Roblox has a 52 week low of $24.88 and a 52 week high of $47.20. The firm has a market cap of $26.11 billion, a price-to-earnings ratio of -23.74 and a beta of 1.60. The firm’s 50-day simple moving average is $38.96 and its 200 day simple moving average is $38.02. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The firm had revenue of $893.50 million for the quarter, compared to the consensus estimate of $897.88 million. During the same period in the prior year, the company posted ($0.46) earnings per share. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. As a group, sell-side analysts predict that Roblox will post -1.59 earnings per share for the current year.

Insiders Place Their Bets

In other Roblox news, insider Arvind Chakravarthy sold 13,970 shares of Roblox stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $35.00, for a total transaction of $488,950.00. Following the transaction, the insider now directly owns 308,996 shares of the company’s stock, valued at approximately $10,814,860. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Roblox news, insider Arvind Chakravarthy sold 13,970 shares of Roblox stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $35.00, for a total transaction of $488,950.00. Following the transaction, the insider now directly owns 308,996 shares of the company’s stock, valued at approximately $10,814,860. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amy Marie Rawlings sold 4,933 shares of Roblox 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 transaction, the chief accounting officer now directly owns 99,617 shares in the company, valued at $4,019,545.95. The disclosure for this sale can be found here. Insiders have sold 502,149 shares of company stock valued at $19,076,307 in the last three months. 22.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roblox

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Swedbank AB boosted 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 worth $1,983,000 after buying an additional 285 shares during the last quarter. Thrive Wealth Management LLC boosted its holdings in shares of Roblox by 4.3% in the 2nd quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock worth $274,000 after buying an additional 300 shares during the last quarter. Mystic Asset Management Inc. boosted its holdings in shares of Roblox by 4.0% in the 1st quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock worth $326,000 after buying an additional 325 shares during the last quarter. Center for Financial Planning Inc. boosted its holdings in shares of Roblox by 2.3% in the 2nd quarter. Center for Financial Planning Inc. now owns 17,722 shares of the company’s stock worth $659,000 after buying an additional 400 shares during the last quarter. Finally, AlTi Global Inc. boosted its holdings in shares of Roblox by 8.1% in the 2nd quarter. AlTi Global Inc. now owns 5,917 shares of the company’s stock worth $220,000 after buying an additional 445 shares during 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.