Roblox (NYSE:RBLX) Price Target Increased to $51.00 by Analysts at BTIG Research

Roblox (NYSE:RBLX) had its price objective boosted by equities researchers at BTIG Research from $47.00 to $51.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 16.87% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC boosted their target price on Roblox from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group assumed coverage on Roblox in a research note on Thursday, July 11th. They set a “hold” rating and a $42.00 target price for the company. Roth Capital cut shares of Roblox from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Roblox from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Roth Mkm lifted their price objective on shares of Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Eight 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 stock. According to data from MarketBeat, Roblox presently has an average rating of “Moderate Buy” and a consensus target price of $44.40.

Roblox Trading Down 0.2 %

Shares of NYSE:RBLX opened at $43.64 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. Roblox has a fifty-two week low of $24.88 and a fifty-two week high of $47.20. The company’s 50-day moving average price is $40.47 and its 200 day moving average price is $38.01. The company has a market cap of $26.12 billion, a PE ratio of -23.46 and a beta of 1.60.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07. The business had revenue of $893.50 million for the quarter, compared to analysts’ expectations of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The company’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.46) earnings per share. Sell-side analysts anticipate that Roblox will post -1.59 earnings per share for the current year.

Insider Activity

In related news, Director Gregory Baszucki sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $36.67, for a total transaction of $476,710.00. Following the completion of the sale, the director now directly owns 9,721,603 shares in the company, valued at $356,491,182.01. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO David Baszucki sold 166,668 shares of Roblox stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $40.21, for a total transaction of $6,701,720.28. Following the completion of the sale, the chief executive officer now directly owns 142,260 shares in the company, valued at approximately $5,720,274.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gregory Baszucki sold 13,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $36.67, for a total value of $476,710.00. Following the completion of the transaction, the director now owns 9,721,603 shares in the company, valued at approximately $356,491,182.01. The disclosure for this sale can be found here. Insiders have sold 549,113 shares of company stock worth $22,730,599 in the last 90 days. Company insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale boosted its holdings in Roblox by 2.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock worth $2,318,000 after purchasing an additional 1,419 shares in the last quarter. Kodai Capital Management LP bought a new stake in shares of Roblox during the 4th quarter worth about $6,805,000. SteelPeak Wealth LLC increased its holdings in shares of Roblox by 41.4% during the 1st quarter. SteelPeak Wealth LLC now owns 11,091 shares of the company’s stock valued at $423,000 after acquiring an additional 3,247 shares during the last quarter. Sei Investments Co. raised its stake in shares of Roblox by 18.3% in the 1st quarter. Sei Investments Co. now owns 288,112 shares of the company’s stock valued at $11,000,000 after acquiring an additional 44,557 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Roblox by 319.6% in the 1st quarter. Acadian Asset Management LLC now owns 28,271 shares of the company’s stock worth $1,075,000 after purchasing an additional 21,533 shares during the last quarter. Institutional investors and hedge funds own 91.08% 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.