BTIG Research Issues Positive Forecast for Roblox (NYSE:RBLX) Stock Price

Roblox (NYSE:RBLX) had its target price lifted by BTIG Research from $51.00 to $56.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

RBLX has been the subject of several other reports. Roth Mkm increased their price objective on shares of Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. BMO Capital Markets restated an “outperform” rating and set a $56.00 target price on shares of Roblox in a research report on Tuesday, July 30th. Wolfe Research began coverage on Roblox in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft increased their price target on Roblox from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Barclays lifted their price objective on shares of Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Roblox has a consensus rating of “Moderate Buy” and a consensus price target of $52.55.

Roblox Price Performance

Shares of Roblox stock traded down $0.28 during trading on Friday, hitting $51.44. The company’s stock had a trading volume of 12,925,147 shares, compared to its average volume of 9,062,251. 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 has a 52 week low of $29.55 and a 52 week high of $52.65. The stock has a 50-day moving average price of $43.67 and a two-hundred day moving average price of $39.34.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.01. Roblox had a negative return on equity of 1,283.93% and a negative net margin of 30.90%. The company had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the company earned ($0.45) earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. Equities analysts anticipate that Roblox will post -1.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Roblox news, insider Arvind Chakravarthy sold 592 shares of Roblox stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $43.32, for a total transaction of $25,645.44. Following the transaction, the insider now owns 276,892 shares of the company’s stock, valued at $11,994,961.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Arvind Chakravarthy sold 592 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $43.32, for a total transaction of $25,645.44. Following the completion of the sale, the insider now directly owns 276,892 shares of the company’s stock, valued at $11,994,961.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anthony P. Lee sold 200,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the completion of the transaction, the director now directly owns 4,707,579 shares in the company, valued at $236,932,451.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 979,341 shares of company stock valued at $43,897,012. Corporate insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in Roblox by 98.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after purchasing an additional 548 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Roblox during the 1st quarter valued at approximately $230,000. Maryland State Retirement & Pension System boosted its holdings in Roblox by 4.2% in the 1st quarter. Maryland State Retirement & Pension System now owns 36,877 shares of the company’s stock worth $1,343,000 after buying an additional 1,492 shares during the period. Private Advisor Group LLC grew 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 valued at $2,295,000 after buying an additional 2,506 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position 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 in 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.