Roblox (NYSE:RBLX) Given New $56.00 Price Target at BTIG Research

Roblox (NYSE:RBLX) had its price objective upped by analysts at BTIG Research from $51.00 to $56.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 8.32% from the company’s current price.

RBLX has been the topic of a number of other reports. Wolfe Research began coverage on Roblox in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Citigroup upped their price objective on shares of Roblox from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Jefferies Financial Group began coverage on shares of Roblox in a research report on Thursday, July 11th. They set a “hold” rating and a $42.00 target price for the company. Macquarie increased their target price on Roblox from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Roth Mkm upped their price target on Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.15.

Roblox Price Performance

Shares of RBLX opened at $51.70 on Friday. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $30.94 billion, a PE ratio of -30.06 and a beta of 1.60. Roblox has a twelve month low of $29.55 and a twelve month high of $52.65. The firm’s 50 day moving average price is $43.53 and its 200 day moving average price is $39.23.

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 net margin of 34.12% and a negative return on equity of 1,187.59%. The firm had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the company posted ($0.45) earnings per share. Roblox’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, research analysts expect that Roblox will post -1.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mark Reinstra sold 12,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $40.00, for a total value of $480,000.00. Following the sale, the insider now owns 342,656 shares of the company’s stock, valued at approximately $13,706,240. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the transaction, the chief financial officer now owns 374,633 shares in the company, valued at approximately $14,543,253.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Reinstra sold 12,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $40.00, for a total value of $480,000.00. Following the sale, the insider now owns 342,656 shares in the company, valued at $13,706,240. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 779,341 shares of company stock worth $33,831,012 over the last three months. 22.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale lifted its position in shares of Roblox by 2.4% during 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. Dragoneer Investment Group LLC lifted its holdings in Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after buying an additional 2,488,044 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in Roblox by 62.0% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 37,482 shares of the company’s stock worth $1,395,000 after buying an additional 14,348 shares in the last quarter. Sei Investments Co. increased 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 buying an additional 44,557 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Roblox by 319.6% in the 1st quarter. Acadian Asset Management LLC now owns 28,271 shares of the company’s stock valued at $1,075,000 after buying an additional 21,533 shares during the period. Institutional investors and hedge funds 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.