BTIG Research Raises Roblox (NYSE:RBLX) Price Target to $51.00

Roblox (NYSE:RBLX) had its price objective raised by BTIG Research from $47.00 to $51.00 in a research note published on Monday, Marketbeat.com reports. BTIG Research currently has a buy rating on the stock.

A number of other analysts also recently weighed in on RBLX. BMO Capital Markets reissued an outperform rating and set a $56.00 target price on shares of Roblox in a research report on Tuesday, July 30th. Needham & Company LLC lifted their target price on shares of Roblox from $40.00 to $50.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Wedbush reaffirmed an outperform rating and set a $46.00 price target on shares of Roblox in a research report on Monday, July 29th. The Goldman Sachs Group lifted their price objective on Roblox from $38.00 to $45.00 and gave the stock a neutral rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group initiated coverage on Roblox in a research report on Thursday, July 11th. They set a hold rating and a $42.00 target price on the stock. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $44.40.

Roblox Trading Up 0.2 %

Shares of NYSE RBLX opened at $44.98 on Monday. The firm has a 50 day moving average price of $40.90 and a two-hundred day moving average price of $38.09. The stock has a market cap of $26.60 billion, a P/E ratio of -24.18 and a beta of 1.60. Roblox has a 52-week low of $24.88 and a 52-week high of $47.20. 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 (NYSE:RBLX) last announced its earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.07. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The business had revenue of $893.50 million during the quarter, compared to analyst estimates of $897.88 million. During the same period last year, the company earned ($0.46) EPS. Roblox’s revenue for the quarter was up 31.2% compared to the same quarter last year. As a group, equities analysts forecast that Roblox will post -1.59 EPS for the current year.

Insider Transactions at Roblox

In related news, insider Manuel Bronstein sold 40,739 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $45.00, for a total value of $1,833,255.00. Following the transaction, the insider now owns 727,485 shares of the company’s stock, valued at approximately $32,736,825. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Manuel Bronstein sold 40,739 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $45.00, for a total transaction of $1,833,255.00. Following the completion of the sale, the insider now owns 727,485 shares in the company, valued at $32,736,825. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory Baszucki sold 13,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $36.67, for a total value of $476,710.00. Following the transaction, the director now owns 9,721,603 shares in the company, valued at $356,491,182.01. The disclosure for this sale can be found here. Insiders sold a total of 589,852 shares of company stock valued at $24,563,854 over the last three months. Corporate insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PARK CIRCLE Co purchased a new stake in Roblox in the 2nd quarter valued at about $30,000. Strategic Financial Concepts LLC purchased a new position in shares of Roblox in the 2nd quarter worth approximately $33,000. Gilliland Jeter Wealth Management LLC grew its holdings in shares of Roblox by 102.4% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after acquiring an additional 506 shares in the last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of Roblox during the first quarter valued at approximately $39,000. Finally, 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 worth $42,000 after acquiring an additional 548 shares during the period. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

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.