Roblox (NYSE:RBLX) PT Raised to $51.00 at BTIG Research

Roblox (NYSE:RBLX) had its price objective boosted by equities researchers at BTIG Research from $47.00 to $51.00 in a research report issued to clients and investors on Monday, MarketBeat reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 13.61% from the stock’s previous close.

A number of other analysts have also recently issued reports on RBLX. Needham & Company LLC increased their price objective on shares of Roblox from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Macquarie raised their target price on shares of Roblox from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Jefferies Financial Group began coverage on shares of Roblox in a research note on Thursday, July 11th. They set a “hold” rating and a $42.00 target price for the company. Wells Fargo & Company raised their target price on shares of Roblox from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $46.00 target price on shares of Roblox in a research note on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.40.

Roblox Trading Up 2.9 %

NYSE:RBLX opened at $44.89 on Monday. Roblox has a one year low of $24.88 and a one year high of $47.20. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50-day simple moving average is $40.76 and its 200 day simple moving average is $38.04. The firm has a market capitalization of $26.54 billion, a P/E ratio of -24.13 and a beta of 1.60.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.07. The business had revenue of $893.50 million during the quarter, compared to analysts’ expectations of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.46) earnings per share. As a group, analysts forecast that Roblox will post -1.59 EPS for the current fiscal year.

Insider Transactions at Roblox

In related news, CAO Amy Marie Rawlings sold 4,933 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $199,046.55. Following the sale, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at $4,019,545.95. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Anthony P. Lee sold 27,532 shares of Roblox stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $43.52, for a total value of $1,198,192.64. Following the transaction, the director now directly owns 165,190 shares in the company, valued at approximately $7,189,068.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amy Marie Rawlings sold 4,933 shares of Roblox stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total transaction of $199,046.55. Following the completion of the transaction, the chief accounting officer now owns 99,617 shares in the company, valued at $4,019,545.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 549,113 shares of company stock valued at $22,730,599. 22.15% of the stock is currently owned by corporate insiders.

Institutional Trading of Roblox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Truist Financial Corp grew its holdings in shares of Roblox by 10.9% during the 4th quarter. Truist Financial Corp now owns 10,460 shares of the company’s stock worth $478,000 after purchasing an additional 1,026 shares during the period. Russell Investments Group Ltd. lifted its position in Roblox by 16.7% during the 4th quarter. Russell Investments Group Ltd. now owns 33,302 shares of the company’s stock worth $1,524,000 after acquiring an additional 4,764 shares in the last quarter. Natixis Advisors L.P. acquired a new position in Roblox during the 4th quarter worth approximately $554,000. M&T Bank Corp lifted its position in Roblox by 17.6% during the 4th quarter. M&T Bank Corp now owns 19,018 shares of the company’s stock worth $870,000 after acquiring an additional 2,853 shares in the last quarter. Finally, Metis Global Partners LLC acquired a new position in Roblox during the 4th quarter worth approximately $258,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.