BMO Capital Markets Reaffirms Outperform Rating for Roblox (NYSE:RBLX)

Roblox (NYSE:RBLX)‘s stock had its “outperform” rating reissued by investment analysts at BMO Capital Markets in a note issued to investors on Friday, Benzinga reports. They presently have a $62.00 target price on the stock, up from their prior target price of $56.00. BMO Capital Markets’ price objective indicates a potential upside of 20.53% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. Canaccord Genuity Group upped their target price on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday. Needham & Company LLC raised their price objective on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler lifted their target price on shares of Roblox from $54.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday. Roth Mkm upped their price target on shares of Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Raymond James lifted their price target on shares of Roblox from $51.00 to $60.00 and gave the stock a “strong-buy” rating in a report on Thursday. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.55.

Roblox Trading Down 0.5 %

RBLX opened at $51.44 on Friday. The company’s 50 day moving average is $43.67 and its 200-day moving average is $39.35. The company has a market cap of $30.79 billion, a P/E ratio of -31.37 and a beta of 1.56. Roblox has a 1-year low of $29.55 and a 1-year high of $52.65. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.01. Roblox had a negative net margin of 30.90% and a negative return on equity of 1,283.93%. The firm had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the firm posted ($0.45) earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. Equities research analysts predict that Roblox will post -1.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Anthony P. Lee sold 200,000 shares of Roblox stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $50.33, for a total value of $10,066,000.00. Following the completion of the sale, the director now owns 4,707,579 shares in the company, valued at $236,932,451.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the transaction, the chief financial officer now owns 374,633 shares in the company, valued at approximately $14,543,253.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anthony P. Lee sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $50.33, for a total value of $10,066,000.00. Following the sale, the director now owns 4,707,579 shares of the company’s stock, valued at approximately $236,932,451.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 979,341 shares of company stock worth $43,897,012. Corporate insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Roblox by 10.4% in the first quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock valued at $1,950,322,000 after buying an additional 4,818,022 shares in the last quarter. Ieq Capital LLC lifted its position in Roblox by 27.6% in the 1st quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock valued at $473,811,000 after acquiring an additional 2,684,713 shares in the last quarter. Dragoneer Investment Group LLC lifted its position in Roblox by 26.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after acquiring an additional 2,488,044 shares in the last quarter. Greenvale Capital LLP bought a new stake in Roblox during the 2nd quarter worth approximately $89,304,000. Finally, Marshall Wace LLP purchased a new stake in shares of Roblox in the second quarter worth approximately $87,543,000. 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.