Roblox (NYSE:RBLX) Receives “Buy” Rating from Roth Mkm

Roth Mkm reissued their buy rating on shares of Roblox (NYSE:RBLX) in a report issued on Wednesday morning, Benzinga reports. Roth Mkm currently has a $55.00 price target on the stock.

A number of other equities research analysts have also issued reports on RBLX. Needham & Company LLC upped their target price on Roblox from $51.00 to $55.00 and gave the company a buy rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. upgraded shares of Roblox from a neutral rating to an overweight rating and raised their target price for the stock from $41.00 to $48.00 in a research report on Tuesday, April 23rd. Benchmark reiterated a buy rating and issued a $50.00 price target on shares of Roblox in a report on Tuesday, April 23rd. Wedbush increased their price target on Roblox from $53.00 to $56.00 and gave the stock an outperform rating in a research note on Thursday, February 8th. Finally, Barclays raised Roblox from an underweight rating to an equal weight rating and lifted their price objective for the company from $26.00 to $46.00 in a research report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $47.60.

Roblox Stock Up 2.9 %

NYSE RBLX opened at $36.59 on Wednesday. The business has a 50 day moving average price of $38.28 and a 200 day moving average price of $39.18. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 14.64. Roblox has a 1-year low of $24.88 and a 1-year high of $47.20.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.05. The business had revenue of $1.13 billion during 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% on a year-over-year basis. During the same quarter last year, the business posted ($0.48) earnings per share. As a group, analysts anticipate that Roblox will post -2.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roblox news, CAO Amy Marie Rawlings sold 3,777 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total transaction of $153,497.28. Following the transaction, the chief accounting officer now directly owns 96,125 shares in the company, valued at approximately $3,906,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Roblox news, CFO Michael Guthrie sold 10,972 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total transaction of $445,902.08. Following the transaction, the chief financial officer now owns 233,629 shares of the company’s stock, valued at approximately $9,494,682.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amy Marie Rawlings sold 3,777 shares of Roblox stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total value of $153,497.28. Following the completion of the transaction, the chief accounting officer now owns 96,125 shares of the company’s stock, valued at approximately $3,906,520. The disclosure for this sale can be found here. Over the last quarter, insiders sold 712,374 shares of company stock worth $29,639,338. Insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Large investors have recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Roblox by 171.8% during the third quarter. Barclays PLC now owns 1,086,243 shares of the company’s stock worth $31,457,000 after purchasing an additional 686,594 shares during the period. Aviva PLC raised its stake in Roblox by 202.5% during the third quarter. Aviva PLC now owns 195,411 shares of the company’s stock worth $5,659,000 after acquiring an additional 130,818 shares during the period. Morgan Stanley lifted its holdings in Roblox by 13.7% in the third quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock worth $1,187,769,000 after acquiring an additional 4,927,848 shares during the last quarter. Vanguard Group Inc. boosted its stake in Roblox by 29.0% in the third quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock valued at $1,291,414,000 after acquiring an additional 10,025,779 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Roblox in the third quarter valued at approximately $6,415,000. 91.08% of the stock is currently 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.