Roblox (NYSE:RBLX) Stock Price Expected to Rise, BTIG Research Analyst Says

Roblox (NYSE:RBLX) had its target price raised by BTIG Research from $51.00 to $56.00 in a report published on Friday morning, Benzinga reports. BTIG Research currently has a buy rating on the stock.

RBLX has been the topic of several other reports. Macquarie raised their target price on Roblox from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Jefferies Financial Group began coverage on Roblox in a research report on Thursday, July 11th. They set a “hold” rating and a $42.00 price objective for the company. Wolfe Research began coverage on shares of Roblox in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. upped their price objective on Roblox from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler increased their target price on shares of Roblox from $48.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.80.

Roblox Stock Performance

Shares of RBLX stock opened at $50.00 on Friday. The company has a market capitalization of $29.93 billion, a price-to-earnings ratio of -30.49 and a beta of 1.56. 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 has a one year low of $29.55 and a one year high of $53.07. The company’s 50-day moving average is $43.79 and its 200 day moving average is $39.48.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.02. The firm had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative return on equity of 1,283.93% and a negative net margin of 30.90%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.45) earnings per share. Sell-side analysts expect that Roblox will post -1.58 EPS for the current fiscal year.

Insider Activity

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total value of $1,164,600.00. Following the transaction, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at approximately $14,543,253.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the transaction, the chief financial officer now owns 374,633 shares in the company, valued at approximately $14,543,253.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark Reinstra sold 17,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $40.47, for a total value of $687,990.00. Following the completion of the transaction, the insider now owns 342,656 shares of the company’s stock, valued at $13,867,288.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 989,341 shares of company stock worth $44,391,412. 22.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Roblox by 10.4% in the first quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock valued at $1,950,322,000 after purchasing an additional 4,818,022 shares during the period. Baillie Gifford & Co. increased its position in shares of Roblox by 1.9% during the second quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock valued at $1,084,395,000 after acquiring an additional 535,414 shares during the last quarter. ARK Investment Management LLC raised its position in Roblox by 12.9% in the second quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock valued at $496,338,000 after purchasing an additional 1,519,591 shares during the period. Ieq Capital LLC raised its holdings in shares of Roblox by 27.6% in the 1st quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock valued at $473,811,000 after buying an additional 2,684,713 shares during the period. Finally, Dragoneer Investment Group LLC lifted its position in shares of Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after purchasing an additional 2,488,044 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

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.