Barclays Forecasts Strong Price Appreciation for Roblox (NYSE:RBLX) Stock

Roblox (NYSE:RBLX) had its price target raised by Barclays from $40.00 to $50.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research analysts have also issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Roblox from $46.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price objective (up from $56.00) on shares of Roblox in a report on Friday. Raymond James boosted their price target on Roblox from $51.00 to $60.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on Roblox from $51.00 to $62.00 and gave the company an “overweight” rating in a report on Friday. Finally, Citigroup upped their price objective on shares of Roblox from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.80.

Roblox Price Performance

RBLX opened at $50.00 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. The company’s 50-day moving average price is $43.79 and its 200 day moving average price is $39.48. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $53.07. The firm has a market cap of $29.93 billion, a price-to-earnings ratio of -30.49 and a beta of 1.56.

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

Insider Buying and Selling at Roblox

In other news, insider Mark Reinstra sold 12,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $40.00, for a total transaction of $480,000.00. Following the transaction, the insider now owns 342,656 shares in the company, valued at $13,706,240. 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 this hyperlink. In other news, CAO Amy Marie Rawlings sold 4,933 shares of Roblox 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 transaction, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at $4,019,545.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Reinstra sold 12,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $40.00, for a total transaction of $480,000.00. Following the sale, the insider now directly owns 342,656 shares of the company’s stock, valued at approximately $13,706,240. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, 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

A number of institutional investors and hedge funds have recently bought and sold shares of RBLX. Versor Investments LP acquired a new stake in shares of Roblox in the third quarter valued at about $257,000. River Global Investors LLP increased its position in Roblox by 4.4% in the 3rd quarter. River Global Investors LLP now owns 35,370 shares of the company’s stock worth $1,565,000 after buying an additional 1,496 shares during the period. Sigma Planning Corp lifted its holdings in shares of Roblox by 6.6% during the third quarter. Sigma Planning Corp now owns 6,822 shares of the company’s stock worth $302,000 after buying an additional 420 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc boosted its position in shares of Roblox by 23.2% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 447,067 shares of the company’s stock valued at $19,783,000 after acquiring an additional 84,198 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Roblox in the third quarter worth $100,000. Institutional investors and hedge funds 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.