Oppenheimer Issues Positive Forecast for Roblox (NYSE:RBLX) Stock Price

Roblox (NYSE:RBLX) had its price target lifted by Oppenheimer from $70.00 to $80.00 in a report released on Monday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research firms also recently commented on RBLX. Morgan Stanley decreased their price objective on shares of Roblox from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company increased their price target on shares of Roblox from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Friday. CICC Research began coverage on Roblox in a report on Tuesday, January 14th. They set an “outperform” rating for the company. OTR Global upgraded Roblox from a “mixed” rating to a “positive” rating in a research note on Monday, February 3rd. Finally, Benchmark lifted their price target on Roblox from $71.00 to $77.00 and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Roblox currently has an average rating of “Moderate Buy” and an average target price of $67.91.

Roblox Stock Down 3.0 %

Shares of RBLX stock opened at $71.84 on Monday. Roblox has a 52-week low of $29.55 and a 52-week high of $75.74. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. The stock has a market cap of $45.15 billion, a price-to-earnings ratio of -49.54 and a beta of 1.46. The firm’s 50-day moving average is $59.97 and its 200-day moving average is $58.85.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.09. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The business’s revenue was up 30.6% on a year-over-year basis. During the same period last year, the firm posted ($0.43) earnings per share. Sell-side analysts predict that Roblox will post -1.49 EPS for the current year.

Insider Buying and Selling at Roblox

In related news, CEO David Baszucki sold 229,167 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $52.48, for a total value of $12,026,684.16. Following the completion of the transaction, the chief executive officer now owns 221,983 shares of the company’s stock, valued at $11,649,667.84. This represents a 50.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Guthrie sold 26,154 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $65.94, for a total transaction of $1,724,594.76. Following the sale, the chief financial officer now directly owns 417,079 shares in the company, valued at approximately $27,502,189.26. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 764,399 shares of company stock valued at $45,431,661. 22.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Versant Capital Management Inc increased its holdings in Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares in the last quarter. Gordian Capital Singapore Pte Ltd grew its holdings in shares of Roblox by 74.8% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock worth $32,000 after purchasing an additional 240 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Roblox by 819.0% during the first quarter. Larson Financial Group LLC now owns 579 shares of the company’s stock worth $34,000 after purchasing an additional 516 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Roblox in the first quarter valued at approximately $39,000. Finally, Colonial Trust Co SC bought a new position in Roblox in the 4th quarter valued at approximately $41,000. 94.46% of the stock is currently owned by 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.