Roblox Corporation (NYSE:RBLX) Receives Average Rating of “Moderate Buy” from Brokerages

Roblox Corporation (NYSE:RBLX) has been assigned a consensus rating of “Moderate Buy” from the twenty-four research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $117.59.

RBLX has been the topic of a number of recent analyst reports. Raymond James Financial lowered shares of Roblox from a “strong-buy” rating to an “outperform” rating and increased their price objective for the stock from $81.00 to $130.00 in a research report on Wednesday, July 23rd. Wall Street Zen downgraded shares of Roblox from a “hold” rating to a “sell” rating in a research note on Saturday. Citigroup increased their price objective on Roblox from $123.00 to $152.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Piper Sandler lifted their target price on Roblox from $105.00 to $138.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, BTIG Research set a $131.00 target price on Roblox and gave the stock a “buy” rating in a report on Monday, July 28th.

Roblox Trading Down 9.2%

NYSE:RBLX opened at $125.16 on Monday. The company’s 50-day simple moving average is $105.05 and its 200 day simple moving average is $78.76. Roblox has a one year low of $35.30 and a one year high of $150.59. The firm has a market capitalization of $80.73 billion, a P/E ratio of -87.52 and a beta of 1.63. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.97 and a quick ratio of 0.97.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.04). Roblox had a negative return on equity of 372.96% and a negative net margin of 23.67%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business posted ($0.32) earnings per share. Roblox’s quarterly revenue was up 50.5% compared to the same quarter last year. As a group, analysts forecast that Roblox will post -1.49 EPS for the current fiscal year.

Insider Activity

In related news, CEO David Baszucki sold 687,500 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $87.97, for a total value of $60,479,375.00. Following the completion of the transaction, the chief executive officer owned 211,559 shares in the company, valued at $18,610,845.23. This trade represents a 76.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 5,251,703 shares of company stock valued at $492,380,210. Insiders own 12.92% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of hedge funds have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC bought a new position in shares of Roblox in the 4th quarter valued at approximately $716,000. Alliancebernstein L.P. boosted its holdings in Roblox by 68.8% during the fourth quarter. Alliancebernstein L.P. now owns 317,793 shares of the company’s stock valued at $18,388,000 after acquiring an additional 129,537 shares during the period. National Bank of Canada FI boosted its holdings in Roblox by 358.5% during the fourth quarter. National Bank of Canada FI now owns 40,407 shares of the company’s stock valued at $2,338,000 after acquiring an additional 31,594 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Roblox in the fourth quarter valued at about $60,690,000. Finally, Pitcairn Co. increased its stake in shares of Roblox by 6.6% in the fourth quarter. Pitcairn Co. now owns 6,955 shares of the company’s stock worth $402,000 after purchasing an additional 431 shares during the period. 94.46% of the stock is owned by institutional investors and hedge funds.

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.