Roblox’s (RBLX) Buy Rating Reaffirmed at Roth Mkm

Roth Mkm restated their buy rating on shares of Roblox (NYSE:RBLX) in a research report sent to investors on Wednesday, Benzinga reports. Roth Mkm currently has a $55.00 target price on the stock.

A number of other analysts have also recently weighed in on the company. Needham & Company LLC upped their price target on Roblox from $51.00 to $55.00 and gave the company a buy rating in a research report on Thursday, February 8th. BMO Capital Markets upped their target price on shares of Roblox from $55.00 to $57.00 and gave the stock an outperform rating in a report on Thursday, February 8th. Barclays raised shares of Roblox from an underweight rating to an equal weight rating and lifted their price target for the company from $26.00 to $46.00 in a report on Thursday, February 8th. JPMorgan Chase & Co. upgraded shares of Roblox from a neutral rating to an overweight rating and boosted their price target for the company from $41.00 to $48.00 in a research report on Tuesday, April 23rd. Finally, Wedbush raised their price objective on shares of Roblox from $53.00 to $56.00 and gave the stock an outperform rating in a report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Roblox has an average rating of Moderate Buy and an average price target of $47.60.

Roblox Stock Performance

Shares of Roblox stock opened at $36.59 on Wednesday. The company’s fifty day moving average price is $38.28 and its two-hundred day moving average price is $39.18. Roblox has a 52-week low of $24.88 and a 52-week high of $47.20. The company has a debt-to-equity ratio of 14.64, a current ratio of 1.07 and a quick ratio of 1.07.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.05. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.05 billion. Roblox had a negative net margin of 41.15% and a negative return on equity of 770.71%. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.48) earnings per share. Analysts anticipate that Roblox will post -2.09 earnings per share for the current year.

Insider Buying and Selling at Roblox

In other news, CAO Amy Marie Rawlings sold 3,777 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total transaction of $153,497.28. Following the completion of the sale, the chief accounting officer now owns 96,125 shares in the company, valued at $3,906,520. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CAO Amy Marie Rawlings sold 3,777 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total value of $153,497.28. Following the transaction, the chief accounting officer now owns 96,125 shares of the company’s stock, valued at approximately $3,906,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Baszucki sold 200,000 shares of Roblox stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $44.15, for a total transaction of $8,830,000.00. Following the sale, the chief executive officer now owns 1 shares of the company’s stock, valued at approximately $44.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 712,374 shares of company stock worth $29,639,338. Insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RBLX. Vanguard Group Inc. lifted its stake in Roblox by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 46,264,280 shares of the company’s stock valued at $2,115,203,000 after buying an additional 1,671,272 shares during the period. Morgan Stanley grew its holdings in Roblox by 13.7% during the third quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock valued at $1,187,769,000 after purchasing an additional 4,927,848 shares during the period. Baillie Gifford & Co. boosted its position in shares of Roblox by 3.1% during the first quarter. Baillie Gifford & Co. now owns 28,607,151 shares of the company’s stock worth $1,092,221,000 after purchasing an additional 867,805 shares in the last quarter. Ieq Capital LLC lifted its holdings in Roblox by 6.3% during the fourth quarter. Ieq Capital LLC now owns 9,725,211 shares of the company’s stock worth $444,637,000 after acquiring an additional 573,463 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Roblox by 9.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,493,091 shares of the company’s stock worth $324,266,000 after acquiring an additional 764,481 shares in the last quarter. 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.