Roth Mkm Reaffirms “Buy” Rating for Roblox (NYSE:RBLX)

Roth Mkm reiterated their buy rating on shares of Roblox (NYSE:RBLX) in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a $55.00 price objective on the stock.

Other analysts have also recently issued reports about the company. Stifel Nicolaus reiterated a buy rating and issued a $53.00 price target on shares of Roblox in a research report on Monday, April 22nd. The Goldman Sachs Group raised shares of Roblox from a sell rating to a neutral rating and lifted their price target for the company from $35.00 to $48.00 in a report on Thursday, February 8th. BMO Capital Markets boosted their price target on shares of Roblox from $55.00 to $57.00 and gave the company an outperform rating in a research report on Thursday, February 8th. Barclays raised shares of Roblox from an underweight rating to an equal weight rating and raised their price objective for the stock from $26.00 to $46.00 in a report on Thursday, February 8th. Finally, Benchmark reissued a buy rating and issued a $50.00 target price on shares of Roblox in a report on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Roblox currently has an average rating of Moderate Buy and a consensus target price of $47.60.

Roblox Stock Up 5.2 %

RBLX opened at $39.28 on Wednesday. Roblox has a fifty-two week low of $24.88 and a fifty-two week high of $47.20. The company has a market capitalization of $24.81 billion, a P/E ratio of -21.01 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 firm’s fifty day moving average price is $38.10 and its two-hundred day moving average price is $39.15.

Roblox (NYSE:RBLX) last posted its earnings results on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.05. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Roblox had a negative net margin of 41.15% and a negative return on equity of 770.71%. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.48) earnings per share. On average, analysts anticipate that Roblox will post -2.09 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gregory Baszucki sold 13,000 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $35.08, for a total value of $456,040.00. Following the completion of the sale, the director now owns 9,747,603 shares in the company, valued at $341,945,913.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO David Baszucki sold 200,000 shares of Roblox stock in a transaction on Friday, February 9th. The shares were sold at an average price of $44.15, for a total transaction of $8,830,000.00. Following the transaction, the chief executive officer now directly owns 1 shares of the company’s stock, valued at $44.15. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gregory Baszucki sold 13,000 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $35.08, for a total transaction of $456,040.00. Following the completion of the transaction, the director now directly owns 9,747,603 shares of the company’s stock, valued at approximately $341,945,913.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 712,374 shares of company stock valued at $29,639,338. Company insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nikko Asset Management Americas Inc. increased its stake in Roblox by 11.0% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,461,414 shares of the company’s stock worth $284,877,000 after purchasing an additional 739,299 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Roblox by 1.2% during the first quarter. Daiwa Securities Group Inc. now owns 49,070 shares of the company’s stock worth $1,873,000 after acquiring an additional 600 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Roblox by 4.8% during the first quarter. Nordea Investment Management AB now owns 28,492 shares of the company’s stock worth $1,104,000 after acquiring an additional 1,298 shares during the period. Baillie Gifford & Co. lifted its position in Roblox by 3.1% in the 1st quarter. Baillie Gifford & Co. now owns 28,607,151 shares of the company’s stock valued at $1,092,221,000 after acquiring an additional 867,805 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in Roblox by 4.4% in the 1st quarter. Private Advisor Group LLC now owns 60,111 shares of the company’s stock worth $2,295,000 after purchasing an additional 2,506 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

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.