Benchmark Reaffirms Buy Rating for Roblox (NYSE:RBLX)

Benchmark reiterated their buy rating on shares of Roblox (NYSE:RBLX) in a report released on Tuesday morning, Benzinga reports. They currently have a $50.00 target price on the stock.

Several other research analysts have also issued reports on the stock. Barclays raised shares of Roblox from an underweight rating to an equal weight rating and raised their target price for the company from $26.00 to $46.00 in a research note on Thursday, February 8th. JPMorgan Chase & Co. raised Roblox from a neutral rating to an overweight rating and increased their target price for the company from $41.00 to $48.00 in a research note on Tuesday. Wedbush increased their target price on Roblox from $53.00 to $56.00 and gave the company an outperform rating in a research note on Thursday, February 8th. Stifel Nicolaus reissued a buy rating and issued a $53.00 target price on shares of Roblox in a research note on Monday. Finally, Needham & Company LLC increased 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. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Roblox has a consensus rating of Moderate Buy and a consensus target price of $47.60.

Roblox Trading Up 1.6 %

Shares of Roblox stock opened at $35.52 on Tuesday. The company has a debt-to-equity ratio of 14.64, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a 50 day simple moving average of $38.67 and a 200 day simple moving average of $38.96. Roblox has a fifty-two week low of $24.88 and a fifty-two week high of $47.20.

Roblox (NYSE:RBLX) last issued 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 analyst estimates of $1.05 billion. Roblox had a negative net margin of 41.15% and a negative return on equity of 770.71%. Roblox’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.48) earnings per share. On average, analysts anticipate that Roblox will post -2.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 3,777 shares of the firm’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 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 is available at the SEC website. In other news, CAO Amy Marie Rawlings sold 3,777 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 $153,497.28. Following the transaction, the chief accounting officer now owns 96,125 shares in the company, valued at $3,906,520. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Baszucki sold 200,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 1 shares in the company, valued at approximately $44.15. The disclosure for this sale can be found here. Insiders sold 699,374 shares of company stock valued at $29,183,298 in the last quarter. 22.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RBLX. Vanguard Group Inc. grew its position in shares of Roblox by 29.0% during the 3rd quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock worth $1,291,414,000 after purchasing an additional 10,025,779 shares in the last quarter. Ieq Capital LLC raised its holdings in shares of Roblox by 158.0% during the 3rd quarter. Ieq Capital LLC now owns 9,151,748 shares of the company’s stock worth $265,035,000 after buying an additional 5,604,995 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Roblox by 195.1% during the 4th quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company’s stock worth $357,043,000 after buying an additional 5,162,833 shares in the last quarter. Morgan Stanley raised its holdings in shares of Roblox by 13.7% during the 3rd quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock worth $1,187,769,000 after buying an additional 4,927,848 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Roblox during the 4th quarter worth $216,194,000. 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.