Roblox (NYSE:RBLX) Now Covered by Analysts at Cowen

Cowen initiated coverage on shares of Roblox (NYSE:RBLXGet Rating) in a research report released on Monday, Marketbeat.com reports. The firm issued an underperform rating and a $31.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group boosted their target price on shares of Roblox from $24.00 to $30.00 in a research report on Thursday, June 9th. Bank of America lifted their price target on Roblox from $40.00 to $45.00 and gave the stock a buy rating in a research note on Thursday, July 14th. Cowen started coverage on Roblox in a research note on Monday. They set an underperform rating and a $31.00 price target for the company. Wolfe Research started coverage on Roblox in a research note on Tuesday, August 16th. They set a market perform rating for the company. Finally, Needham & Company LLC lifted their price target on Roblox from $45.00 to $55.00 and gave the stock a buy rating in a research note on Thursday, August 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $43.89.

Roblox Stock Performance

NYSE:RBLX opened at $46.57 on Monday. The firm has a market cap of $25.40 billion, a price-to-earnings ratio of -49.02 and a beta of 1.89. Roblox has a 1-year low of $21.65 and a 1-year high of $141.60. The firm’s fifty day moving average price is $42.33 and its 200 day moving average price is $38.86. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.65 and a quick ratio of 1.65.

Roblox (NYSE:RBLXGet Rating) last issued its earnings results on Tuesday, August 9th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.06). The company had revenue of $639.90 million for the quarter, compared to analysts’ expectations of $625.43 million. Roblox had a negative return on equity of 95.60% and a negative net margin of 25.11%. Roblox’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. On average, sell-side analysts expect that Roblox will post -1.23 EPS for the current year.

Insider Activity

In other news, major shareholder Han Kim sold 50,000 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $50.36, for a total transaction of $2,518,000.00. Following the completion of the transaction, the insider now owns 1,404,233 shares of the company’s stock, valued at approximately $70,717,173.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CTO Daniel Sturman sold 9,387 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $41.52, for a total transaction of $389,748.24. Following the completion of the sale, the chief technology officer now owns 374,172 shares in the company, valued at approximately $15,535,621.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Han Kim sold 50,000 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $50.36, for a total value of $2,518,000.00. Following the sale, the insider now owns 1,404,233 shares of the company’s stock, valued at approximately $70,717,173.88. The disclosure for this sale can be found here. Insiders sold a total of 683,726 shares of company stock valued at $29,197,787 in the last 90 days. 28.22% of the stock is currently owned by insiders.

Institutional Trading of Roblox

Institutional investors have recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd purchased a new position in Roblox in the 4th quarter worth approximately $34,000. Cornerstone Advisory LLC purchased a new position in Roblox in the 4th quarter worth approximately $34,000. Parkside Financial Bank & Trust boosted its holdings in Roblox by 1,882.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 337 shares of the company’s stock worth $35,000 after acquiring an additional 320 shares during the period. HM Payson & Co. purchased a new position in Roblox in the 4th quarter worth approximately $40,000. Finally, Highlander Capital Management LLC purchased a new position in Roblox in the 1st quarter worth approximately $25,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

About Roblox

(Get Rating)

Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.

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Analyst Recommendations for Roblox (NYSE:RBLX)

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