Brokerages Set Roblox Corporation (NYSE:RBLX) PT at $116.76

Shares of Roblox Corporation (NYSE:RBLX) have received a consensus rating of “Moderate Buy” from the twenty-seven brokerages that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, seventeen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $116.76.

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC cut their target price on shares of Roblox from $159.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Wells Fargo & Company cut their target price on shares of Roblox from $97.00 to $78.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. Citigroup cut their target price on shares of Roblox from $105.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, March 30th. Piper Sandler reaffirmed an “overweight” rating and set a $100.00 target price (down from $125.00) on shares of Roblox in a research note on Friday, February 6th. Finally, Jefferies Financial Group set a $85.00 target price on shares of Roblox in a research note on Thursday, January 15th.

Insider Activity

In other news, insider Matthew D. Kaufman sold 13,325 shares of Roblox stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $57.94, for a total transaction of $772,050.50. Following the sale, the insider owned 364,320 shares of the company’s stock, valued at approximately $21,108,700.80. The trade was a 3.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Gregory Baszucki sold 16,666 shares of Roblox stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $57.95, for a total transaction of $965,794.70. Following the sale, the director directly owned 1,302,834 shares in the company, valued at $75,499,230.30. The trade was a 1.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 551,996 shares of company stock worth $38,421,146. 12.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roblox

A number of large investors have recently modified their holdings of the stock. NewEdge Advisors LLC boosted its stake in Roblox by 2.3% during the first quarter. NewEdge Advisors LLC now owns 10,236 shares of the company’s stock worth $597,000 after acquiring an additional 231 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in Roblox by 70.2% during the second quarter. Sivia Capital Partners LLC now owns 13,000 shares of the company’s stock worth $1,368,000 after acquiring an additional 5,363 shares in the last quarter. CW Advisors LLC bought a new stake in Roblox during the second quarter worth about $272,000. Baird Financial Group Inc. boosted its stake in Roblox by 1.4% during the second quarter. Baird Financial Group Inc. now owns 7,294 shares of the company’s stock worth $767,000 after acquiring an additional 102 shares in the last quarter. Finally, Ossiam boosted its stake in Roblox by 2.1% during the second quarter. Ossiam now owns 6,000 shares of the company’s stock worth $631,000 after acquiring an additional 123 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.

Roblox Price Performance

Shares of Roblox stock opened at $60.37 on Friday. The firm has a market cap of $39.94 billion, a PE ratio of -38.95 and a beta of 1.67. Roblox has a 12-month low of $51.23 and a 12-month high of $150.59. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 2.65. The company’s fifty day simple moving average is $60.95 and its two-hundred day simple moving average is $84.67.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.04. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $2.08 billion. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The company’s revenue was up 122.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.33) EPS. As a group, equities analysts expect that Roblox will post -1.49 EPS for the current year.

Roblox Company Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.