Brokerages Set Roblox Corporation (NYSE:RBLX) Target Price at $85.48

Shares of Roblox Corporation (NYSE:RBLXGet Free Report) have earned a consensus rating of “Moderate Buy” from the thirty ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, seventeen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $85.8519.

A number of equities research analysts have commented on the stock. Canaccord Genuity Group dropped their price objective on shares of Roblox from $140.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Jefferies Financial Group downgraded shares of Roblox from a “hold” rating to a “hold” rating in a research note on Friday, May 1st. Wedbush lowered Roblox from a “hold” rating to a “neutral” rating in a report on Friday, May 1st. Roth Capital set a $65.00 price target on Roblox in a research note on Tuesday, May 5th. Finally, Wall Street Zen raised Roblox from a “sell” rating to a “hold” rating in a report on Saturday, July 18th.

Get Our Latest Stock Analysis on RBLX

Insider Buying and Selling at Roblox

In other Roblox news, insider Matthew D. Kaufman sold 14,356 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $45.27, for a total value of $649,896.12. Following the transaction, the insider directly owned 349,964 shares in the company, valued at $15,842,870.28. This represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Gregory Baszucki sold 16,666 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $57.69, for a total transaction of $961,461.54. Following the sale, the director directly owned 1,277,835 shares in the company, valued at approximately $73,718,301.15. The trade was a 1.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 161,983 shares of company stock worth $7,580,990. 10.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Roblox by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 63,458,784 shares of the company’s stock worth $5,142,065,000 after acquiring an additional 1,020,786 shares in the last quarter. Capital International Investors boosted its stake in Roblox by 7.3% in the fourth quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock valued at $2,589,282,000 after acquiring an additional 2,184,439 shares in the last quarter. Morgan Stanley boosted its stake in Roblox by 8.1% in the fourth quarter. Morgan Stanley now owns 20,728,914 shares of the company’s stock valued at $1,679,664,000 after acquiring an additional 1,555,549 shares in the last quarter. State Street Corp grew its holdings in shares of Roblox by 3.3% during the fourth quarter. State Street Corp now owns 13,812,362 shares of the company’s stock worth $1,119,216,000 after purchasing an additional 442,518 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Roblox by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 12,220,045 shares of the company’s stock worth $988,002,000 after purchasing an additional 547,103 shares during the last quarter. Institutional investors and hedge funds own 94.46% of the company’s stock.

Key Stories Impacting Roblox

Here are the key news stories impacting Roblox this week:

Roblox Stock Performance

Shares of Roblox stock opened at $49.76 on Monday. The business has a 50-day simple moving average of $49.09 and a 200-day simple moving average of $58.28. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.89 and a current ratio of 0.89. Roblox has a one year low of $40.15 and a one year high of $150.59. The company has a market cap of $33.42 billion, a PE ratio of -31.49 and a beta of 1.41.

Roblox (NYSE:RBLXGet Free Report) last issued its earnings results on Thursday, April 30th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.06. Roblox had a negative net margin of 20.69% and a negative return on equity of 277.69%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the company earned ($0.32) earnings per share. The firm’s revenue was up 43.4% compared to the same quarter last year. On average, equities research analysts forecast that Roblox will post -1.39 EPS for the current fiscal year.

Roblox announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 9.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Roblox Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Roblox (NYSE:RBLX)

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