Roblox Corporation (NYSE:RBLX – Get Free Report) was the recipient of a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 13,884,449 shares, a decrease of 42.4% from the July 30th total of 24,107,149 shares. Currently, 2.3% of the shares of the company are short sold. Based on an average daily trading volume, of 16,510,605 shares, the days-to-cover ratio is presently 0.8 days.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. Wolfe Research lowered shares of Roblox from an “outperform” rating to a “hold” rating in a research report on Friday, July 31st. BMO Capital Markets downgraded shares of Roblox from an “outperform” rating to a “market perform” rating and set a $45.00 price target on the stock. in a research report on Friday, July 31st. Cantor Fitzgerald started coverage on shares of Roblox in a research note on Monday, June 29th. They set an “overweight” rating on the stock. Wells Fargo & Company set a $46.00 price objective on shares of Roblox in a research report on Monday, August 3rd. Finally, Moffett Nathanson restated a “neutral” rating and issued a $40.00 price objective on shares of Roblox in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $60.89.
View Our Latest Research Report on Roblox
Insider Transactions at Roblox
Institutional Trading of Roblox
Institutional investors and hedge funds have recently bought and sold shares of the stock. Hanson & Doremus Investment Management bought a new stake in shares of Roblox in the first quarter worth about $25,000. Fideuram Asset Management Ireland dac purchased a new stake in Roblox during the fourth quarter valued at $27,000. Basecamp Wealth Advisors LLC lifted its position in Roblox by 98.8% during the first quarter. Basecamp Wealth Advisors LLC now owns 507 shares of the company’s stock valued at $29,000 after purchasing an additional 252 shares during the last quarter. GW&K Investment Management LLC grew its position in Roblox by 76.3% in the fourth quarter. GW&K Investment Management LLC now owns 372 shares of the company’s stock worth $30,000 after acquiring an additional 161 shares in the last quarter. Finally, Root Financial Partners LLC increased its position in shares of Roblox by 100.7% during the 1st quarter. Root Financial Partners LLC now owns 564 shares of the company’s stock valued at $32,000 after purchasing an additional 283 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors.
Roblox Stock Performance
Roblox stock traded up $0.54 during midday trading on Friday, hitting $38.69. The stock had a trading volume of 7,736,066 shares, compared to its average volume of 16,047,966. The firm’s fifty day moving average is $46.04 and its two-hundred day moving average is $51.76. The company has a market capitalization of $25.92 billion, a PE ratio of -27.06 and a beta of 1.46. Roblox has a 52-week low of $33.88 and a 52-week high of $142.00. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 7.82.
Roblox (NYSE:RBLX – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.08. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.60 billion. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. On average, research analysts forecast that Roblox will post -1.39 EPS for the current year.
Roblox announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 9.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Roblox Company Profile
Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.
Roblox’s business model is built around its virtual economy and creator ecosystem.
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