Roblox Co. (NYSE:RBLX) Receives $46.25 Average PT from Brokerages

Roblox Co. (NYSE:RBLX) has earned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $46.25.

A number of equities research analysts have commented on RBLX shares. Barclays upgraded Roblox from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $26.00 to $46.00 in a report on Thursday, February 8th. Wedbush increased their target price on Roblox from $53.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. BMO Capital Markets increased their price target on Roblox from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. Roth Mkm increased their price target on Roblox from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, Needham & Company LLC increased their target price on Roblox from $51.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th.

Insider Activity at Roblox

In other news, CAO Amy Marie Rawlings sold 3,777 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total transaction of $153,497.28. Following the completion of the sale, the chief accounting officer now directly owns 96,125 shares in the company, valued at $3,906,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Gregory Baszucki sold 8,333 shares of Roblox stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $41.17, for a total value of $343,069.61. Following the completion of the transaction, the director now directly owns 9,786,603 shares in the company, valued at $402,914,445.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amy Marie Rawlings sold 3,777 shares of Roblox stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total value of $153,497.28. Following the completion of the transaction, the chief accounting officer now owns 96,125 shares of the company’s stock, valued at $3,906,520. The disclosure for this sale can be found here. In the last three months, insiders sold 707,707 shares of company stock worth $29,526,367. Corporate insiders own 27.67% of the company’s stock.

Hedge Funds Weigh In On Roblox

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in Roblox by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 788,954 shares of the company’s stock worth $36,481,000 after acquiring an additional 39,203 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Roblox by 7.9% during the first quarter. PNC Financial Services Group Inc. now owns 18,574 shares of the company’s stock valued at $860,000 after buying an additional 1,361 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Roblox by 949.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 20,062 shares of the company’s stock valued at $928,000 after buying an additional 18,150 shares during the last quarter. BlackRock Inc. raised its holdings in Roblox by 265.4% during the first quarter. BlackRock Inc. now owns 311,209 shares of the company’s stock worth $14,390,000 after purchasing an additional 226,029 shares in the last quarter. Finally, Cibc World Market Inc. raised its holdings in Roblox by 62.0% during the first quarter. Cibc World Market Inc. now owns 92,495 shares of the company’s stock worth $4,277,000 after purchasing an additional 35,412 shares in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

Roblox Stock Performance

RBLX opened at $35.55 on Tuesday. The stock has a market cap of $21.01 billion, a P/E ratio of -19.01 and a beta of 1.63. The company has a debt-to-equity ratio of 14.64, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s 50 day simple moving average is $39.51 and its 200 day simple moving average is $38.75. Roblox has a 1-year low of $24.88 and a 1-year high of $47.20.

Roblox (NYSE:RBLX) last announced its earnings results on Wednesday, February 7th. The company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.05. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. Roblox’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.48) EPS. As a group, equities analysts anticipate that Roblox will post -2.1 EPS for the current fiscal year.

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.