Roblox (NYSE:RBLX) Stock Price Expected to Rise, Roth Mkm Analyst Says

Roblox (NYSE:RBLX) had its price objective upped by equities researchers at Roth Mkm from $72.00 to $74.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Roth Mkm’s price target would suggest a potential downside of 0.26% from the company’s current price.

RBLX has been the topic of several other reports. Moffett Nathanson downgraded shares of Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price target on the stock. in a research note on Friday, February 7th. Barclays reduced their price objective on Roblox from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Needham & Company LLC raised their target price on Roblox from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Macquarie upped their price objective on shares of Roblox from $71.00 to $76.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, OTR Global raised shares of Roblox from a “mixed” rating to a “positive” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.27.

Roblox Trading Up 7.5 %

Shares of Roblox stock opened at $74.19 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. Roblox has a twelve month low of $29.55 and a twelve month high of $75.74. The firm has a market capitalization of $46.63 billion, a PE ratio of -51.17 and a beta of 1.49. The firm’s 50-day moving average price is $59.73 and its 200 day moving average price is $58.49.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.09. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company posted ($0.43) earnings per share. The business’s revenue was up 30.6% on a year-over-year basis. On average, sell-side analysts predict that Roblox will post -1.49 EPS for the current fiscal year.

Insider Activity at Roblox

In other news, CEO David Baszucki sold 229,167 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $52.48, for a total transaction of $12,026,684.16. Following the sale, the chief executive officer now owns 221,983 shares of the company’s stock, valued at approximately $11,649,667.84. This trade represents a 50.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Reinstra sold 19,525 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $65.94, for a total transaction of $1,287,478.50. Following the completion of the transaction, the insider now owns 339,206 shares in the company, valued at $22,367,243.64. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 764,399 shares of company stock worth $45,431,661. Company insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Retirement Planning Co of New England Inc. purchased a new stake in Roblox in the first quarter valued at $503,000. Forum Financial Management LP lifted its holdings in shares of Roblox by 16.7% in the 1st quarter. Forum Financial Management LP now owns 4,504 shares of the company’s stock valued at $263,000 after purchasing an additional 643 shares during the last quarter. Parcion Private Wealth LLC acquired a new stake in shares of Roblox in the 1st quarter valued at about $303,000. Victory Capital Management Inc. grew its stake in Roblox by 2.5% during the 1st quarter. Victory Capital Management Inc. now owns 164,787 shares of the company’s stock worth $9,605,000 after buying an additional 3,971 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in Roblox by 819.0% during the first quarter. Larson Financial Group LLC now owns 579 shares of the company’s stock worth $34,000 after buying an additional 516 shares during the period. Institutional investors and hedge funds own 94.46% 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.