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

Roblox (NYSE:RBLX) had its price objective hoisted by BTIG Research from $73.00 to $124.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also weighed in on RBLX. Wedbush reaffirmed a “hold” rating on shares of Roblox in a research report on Monday, June 16th. The Goldman Sachs Group raised their price target on shares of Roblox from $63.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, May 14th. Barclays upped their price objective on shares of Roblox from $46.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, May 2nd. Canaccord Genuity Group increased their target price on shares of Roblox from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Finally, Roth Mkm boosted their price target on Roblox from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.52.

Roblox Price Performance

Shares of NYSE:RBLX opened at $103.57 on Tuesday. The business has a fifty day simple moving average of $87.33 and a 200 day simple moving average of $70.37. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39. Roblox has a 1 year low of $35.30 and a 1 year high of $106.17. The firm has a market cap of $70.25 billion, a price-to-earnings ratio of -77.29 and a beta of 1.60.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.09. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.14 billion. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The business’s quarterly revenue was up 30.6% on a year-over-year basis. During the same period last year, the business earned ($0.43) EPS. As a group, sell-side analysts predict that Roblox will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Roblox

In other news, CEO David Baszucki sold 139,507 shares of the business’s stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $105.19, for a total transaction of $14,674,741.33. Following the transaction, the chief executive officer owned 211,559 shares in the company, valued at approximately $22,253,891.21. The trade was a 39.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anthony P. Lee sold 66,000 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $103.89, for a total transaction of $6,856,740.00. Following the transaction, the director directly owned 284,488 shares of the company’s stock, valued at $29,555,458.32. This represents a 18.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,868,857 shares of company stock valued at $604,140,707 in the last ninety days. Company insiders own 12.92% of the company’s stock.

Hedge Funds Weigh In On Roblox

Large investors have recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd grew its holdings in shares of Roblox by 74.8% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock worth $32,000 after purchasing an additional 240 shares in the last quarter. Larson Financial Group LLC lifted its position in Roblox by 819.0% in 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 period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Roblox during the first quarter worth $39,000. Colonial Trust Co SC acquired a new stake in Roblox during the fourth quarter worth $41,000. Finally, Parkside Financial Bank & Trust increased its holdings in Roblox by 44.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock valued at $43,000 after buying an additional 230 shares during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.

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.