Roblox (NYSE:RBLX) Stock Rating Reaffirmed by Benchmark

Roblox (NYSE:RBLX)‘s stock had its “buy” rating reissued by Benchmark in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $50.00 target price on the stock. Benchmark’s target price points to a potential upside of 35.10% from the stock’s current price.

A number of other analysts have also weighed in on the company. The Goldman Sachs Group raised Roblox from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $35.00 to $48.00 in a research report on Thursday, February 8th. JPMorgan Chase & Co. raised Roblox from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $41.00 to $48.00 in a report on Tuesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $53.00 price objective on shares of Roblox in a report on Monday. Roth Mkm increased their target price on shares of Roblox from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, Barclays upgraded shares of Roblox from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $26.00 to $46.00 in a research report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.60.

Roblox Price Performance

Shares of Roblox stock traded up $2.05 on Tuesday, hitting $37.01. The company’s stock had a trading volume of 4,380,969 shares, compared to its average volume of 7,498,467. The company has a debt-to-equity ratio of 14.64, a quick ratio of 1.07 and a current ratio of 1.07. Roblox has a 1 year low of $24.88 and a 1 year high of $47.20. The firm has a fifty day moving average price of $39.15 and a 200-day moving average price of $38.97. The company has a market capitalization of $21.87 billion, a price-to-earnings ratio of -19.88 and a beta of 1.64.

Roblox (NYSE:RBLX) last issued its earnings results on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.05. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.48) EPS. As a group, sell-side analysts anticipate that Roblox will post -2.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gregory Baszucki sold 8,333 shares of Roblox stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $41.17, for a total value of $343,069.61. Following the completion of the transaction, the director now owns 9,786,603 shares in the company, valued at $402,914,445.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David Baszucki sold 200,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $44.15, for a total value of $8,830,000.00. Following the sale, the chief executive officer now directly owns 1 shares of the company’s stock, valued at approximately $44.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory Baszucki sold 8,333 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $41.17, for a total transaction of $343,069.61. Following the sale, the director now directly owns 9,786,603 shares in the company, valued at $402,914,445.51. The disclosure for this sale can be found here. Insiders sold a total of 707,707 shares of company stock worth $29,526,367 over the last quarter. Company insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of institutional investors and hedge funds have recently modified their holdings of RBLX. AE Wealth Management LLC lifted its holdings in shares of Roblox by 33.3% during the 3rd quarter. AE Wealth Management LLC now owns 16,806 shares of the company’s stock worth $487,000 after acquiring an additional 4,196 shares during the period. SG Americas Securities LLC increased its position in shares of Roblox by 829.1% during the third quarter. SG Americas Securities LLC now owns 99,572 shares of the company’s stock worth $2,884,000 after buying an additional 88,855 shares during the period. Impact Partnership Wealth LLC grew its holdings in Roblox by 23.4% in the third quarter. Impact Partnership Wealth LLC now owns 2,127 shares of the company’s stock worth $62,000 after purchasing an additional 403 shares during the period. Exchange Traded Concepts LLC grew its holdings in Roblox by 19.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,245,229 shares of the company’s stock worth $36,062,000 after purchasing an additional 203,627 shares during the period. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Roblox during the third quarter valued at about $140,000. 91.08% of the stock is owned by institutional investors.

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.