Brokerages Set Roblox Co. (NYSE:RBLX) PT at $55.67

Roblox Co. (NYSE:RBLX) has been given an average recommendation of “Moderate Buy” by the twenty-three research firms that are currently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $55.67.

Several research analysts recently weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price objective (up from $56.00) on shares of Roblox in a research report on Friday, November 1st. Morgan Stanley upgraded Roblox from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $38.00 to $65.00 in a report on Monday, November 4th. Citigroup boosted their price objective on shares of Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. BTIG Research increased their target price on shares of Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Barclays boosted their price target on shares of Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st.

Roblox Trading Down 0.8 %

Shares of RBLX stock opened at $59.45 on Friday. Roblox has a twelve month low of $29.55 and a twelve month high of $61.77. The stock has a market cap of $36.12 billion, a price-to-earnings ratio of -36.25 and a beta of 1.50. The company’s 50-day moving average price is $52.65 and its 200-day moving average price is $44.99. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.02. The company had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. Roblox’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.45) EPS. As a group, equities analysts predict that Roblox will post -1.56 earnings per share for the current year.

Insider Buying and Selling

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $41.50, for a total value of $1,245,000.00. Following the sale, the chief financial officer now directly owns 352,844 shares in the company, valued at $14,643,026. This trade represents a 7.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Reinstra sold 24,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $59.75, for a total value of $1,434,000.00. Following the transaction, the insider now directly owns 278,161 shares of the company’s stock, valued at approximately $16,620,119.75. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,284,601 shares of company stock worth $66,867,735 over the last 90 days. 22.15% of the stock is owned by insiders.

Institutional Trading of Roblox

Institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank raised its stake in Roblox by 34.3% during the 3rd quarter. Toronto Dominion Bank now owns 60,092 shares of the company’s stock worth $2,660,000 after acquiring an additional 15,333 shares in the last quarter. Entropy Technologies LP increased its position in shares of Roblox by 168.4% during the third quarter. Entropy Technologies LP now owns 99,649 shares of the company’s stock worth $4,410,000 after purchasing an additional 62,521 shares in the last quarter. Dragoneer Investment Group LLC lifted its holdings in shares of Roblox by 26.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Roblox by 12,971.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 52,024 shares of the company’s stock valued at $2,302,000 after purchasing an additional 51,626 shares during the period. Finally, State Street Corp grew its stake in Roblox by 2.3% during the 3rd quarter. State Street Corp now owns 10,855,890 shares of the company’s stock worth $480,482,000 after buying an additional 240,565 shares during the last quarter. Hedge funds and other institutional investors own 94.46% 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.