Roblox (NYSE:RBLX) Receives Buy Rating from Benchmark

Benchmark restated their buy rating on shares of Roblox (NYSE:RBLX) in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $50.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of Roblox from a neutral rating to an overweight rating and lifted their price target for the stock from $41.00 to $48.00 in a research note on Tuesday. The Goldman Sachs Group upgraded shares of Roblox from a sell rating to a neutral rating and lifted their price target for the stock from $35.00 to $48.00 in a research note on Thursday, February 8th. Needham & Company LLC lifted their price target on shares of Roblox from $51.00 to $55.00 and gave the stock a buy rating in a research note on Thursday, February 8th. Stifel Nicolaus restated a buy rating and issued a $53.00 target price on shares of Roblox in a research note on Monday. Finally, Wedbush boosted their target price on shares of Roblox from $53.00 to $56.00 and gave the company an outperform rating in a research note on Thursday, February 8th. Four 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $47.60.

Roblox Trading Up 3.8 %

Shares of RBLX stock opened at $36.30 on Tuesday. Roblox has a 1 year low of $24.88 and a 1 year high of $47.20. The firm’s fifty day simple moving average is $39.03 and its 200 day simple moving average is $39.01. The firm has a market capitalization of $21.46 billion, a P/E ratio of -19.41 and a beta of 1.64. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 14.64.

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

Insiders Place Their Bets

In other Roblox news, CAO Amy Marie Rawlings sold 3,777 shares of the business’s stock in a transaction dated 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 directly owns 96,125 shares of the company’s stock, valued at approximately $3,906,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David Baszucki sold 200,000 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $44.15, for a total value of $8,830,000.00. Following the completion of the sale, the chief executive officer now directly owns 1 shares of the company’s stock, valued at approximately $44.15. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amy Marie Rawlings sold 3,777 shares of the company’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 completion of the sale, the chief accounting officer now directly owns 96,125 shares of the company’s stock, valued at $3,906,520. The disclosure for this sale can be found here. In the last three months, insiders sold 699,374 shares of company stock valued at $29,183,298. 22.15% of the stock is currently owned by insiders.

Institutional Trading of Roblox

A number of institutional investors and hedge funds have recently modified their holdings of RBLX. Vanguard Group Inc. increased its stake in shares of Roblox by 29.0% in the 3rd 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 last quarter. Ieq Capital LLC grew its position in shares of Roblox by 158.0% in the 3rd quarter. Ieq Capital LLC now owns 9,151,748 shares of the company’s stock valued at $265,035,000 after purchasing an additional 5,604,995 shares during the period. Franklin Resources Inc. grew its position in shares of Roblox by 195.1% in the 4th quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company’s stock valued at $357,043,000 after purchasing an additional 5,162,833 shares during the period. Morgan Stanley grew its position in shares of Roblox by 13.7% in the 3rd 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. Finally, Norges Bank acquired a new position in shares of Roblox in the 4th quarter valued at approximately $216,194,000. 91.08% of the stock is owned by institutional investors.

Roblox Company Profile

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.