Roblox (NYSE:RBLX) Stock Price Expected to Rise, BTIG Research Analyst Says

Roblox (NYSE:RBLX) had its target price upped by BTIG Research from $51.00 to $56.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price indicates a potential upside of 8.86% from the stock’s current price.

Several other research firms have also recently commented on RBLX. Deutsche Bank Aktiengesellschaft upped their target price on shares of Roblox from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised their target price on Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company boosted their price target on Roblox from $46.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Raymond James raised their price target on Roblox from $51.00 to $60.00 and gave the company a “strong-buy” rating in a report on Thursday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $49.00 price objective on shares of Roblox in a report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $52.55.

Roblox Price Performance

RBLX opened at $51.44 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. The company’s 50-day moving average price is $43.67 and its 200 day moving average price is $39.35. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $52.65. The firm has a market cap of $30.79 billion, a price-to-earnings ratio of -31.37 and a beta of 1.56.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.01. The business had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative return on equity of 1,283.93% and a negative net margin of 30.90%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.45) EPS. As a group, sell-side analysts expect that Roblox will post -1.58 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the transaction, the chief financial officer now owns 374,633 shares of the company’s stock, valued at approximately $14,543,253.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the transaction, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $14,543,253.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Reinstra sold 17,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $40.47, for a total value of $687,990.00. Following the completion of the sale, the insider now owns 342,656 shares of the company’s stock, valued at $13,867,288.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 979,341 shares of company stock worth $43,897,012 in the last three months. 22.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roblox

Several institutional investors and hedge funds have recently bought and sold shares of RBLX. AEGON ASSET MANAGEMENT UK Plc boosted its holdings in shares of Roblox by 23.2% during the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 447,067 shares of the company’s stock worth $19,783,000 after purchasing an additional 84,198 shares during the period. Capital Performance Advisors LLP purchased a new stake in Roblox in the 3rd quarter worth approximately $100,000. Principal Financial Group Inc. boosted its stake in shares of Roblox by 308.2% during the 3rd quarter. Principal Financial Group Inc. now owns 181,808 shares of the company’s stock valued at $8,047,000 after buying an additional 137,267 shares during the period. Gulf International Bank UK Ltd grew its holdings in shares of Roblox by 8.4% during the 3rd quarter. Gulf International Bank UK Ltd now owns 37,686 shares of the company’s stock valued at $1,667,000 after acquiring an additional 2,932 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Roblox by 724.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 804,488 shares of the company’s stock worth $35,607,000 after acquiring an additional 706,939 shares during the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.