Roth Mkm Raises Roblox (NYSE:RBLX) Price Target to $42.00

Roblox (NYSE:RBLX) had its price target lifted by equities researchers at Roth Mkm from $35.00 to $42.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Roth Mkm’s target price suggests a potential upside of 3.78% from the stock’s current price.

Several other equities analysts have also issued reports on RBLX. Moffett Nathanson raised Roblox from a “sell” rating to a “neutral” rating and reduced their target price for the company from $31.00 to $26.00 in a report on Friday, May 10th. Roth Capital downgraded Roblox from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 14th. BTIG Research reduced their price objective on Roblox from $54.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Needham & Company LLC reduced their target price on Roblox from $55.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Finally, Wolfe Research initiated coverage on Roblox in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Roblox currently has a consensus rating of “Moderate Buy” and an average target price of $42.91.

Roblox Price Performance

NYSE:RBLX traded down $0.04 during mid-day trading on Monday, reaching $40.47. The stock had a trading volume of 593,303 shares, compared to its average volume of 7,320,346. Roblox has a 12 month low of $24.88 and a 12 month high of $47.20. The stock has a 50-day simple moving average of $36.74 and a two-hundred day simple moving average of $38.07. The company has a debt-to-equity ratio of 16.04, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $23.93 billion, a PE ratio of -21.76 and a beta of 1.59.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, May 9th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.10. Roblox had a negative net margin of 39.19% and a negative return on equity of 1,110.40%. The firm had revenue of $923.76 million for the quarter, compared to analyst estimates of $918.85 million. During the same period in the previous year, the firm posted ($0.44) EPS. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. On average, equities analysts anticipate that Roblox will post -1.66 earnings per share for the current year.

Insider Transactions at Roblox

In other Roblox news, insider Arvind Chakravarthy sold 18,165 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total transaction of $591,452.40. Following the completion of the sale, the insider now directly owns 322,966 shares of the company’s stock, valued at approximately $10,515,772.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Roblox news, CEO David Baszucki sold 166,668 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 142,260 shares in the company, valued at $5,720,274.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Arvind Chakravarthy sold 18,165 shares of Roblox stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total value of $591,452.40. Following the completion of the transaction, the insider now owns 322,966 shares of the company’s stock, valued at approximately $10,515,772.96. The disclosure for this sale can be found here. Insiders sold a total of 476,889 shares of company stock valued at $17,575,955 over the last 90 days. Company insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in Roblox in the fourth quarter worth about $25,000. Gilliland Jeter Wealth Management LLC lifted its holdings in Roblox by 102.4% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after buying an additional 506 shares in the last quarter. Washington Trust Advisors Inc. bought a new position in Roblox in the 1st quarter worth about $39,000. Blue Trust Inc. raised its stake in shares of Roblox by 566.5% during the fourth quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock valued at $49,000 after acquiring an additional 912 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in Roblox during the 1st quarter worth $52,000. Institutional investors 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.