Roblox (NYSE:RBLX) Given Buy Rating at Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of Roblox (NYSE:RBLX) in a report released on Monday morning, Benzinga reports. They currently have a $53.00 price objective on the stock.

Several other equities research analysts have also recently issued reports on the company. Wedbush lifted their target price on Roblox from $53.00 to $56.00 and gave the stock an outperform rating in a report on Thursday, February 8th. Benchmark reaffirmed a buy rating and issued a $46.00 target price on shares of Roblox in a report on Tuesday, January 23rd. BMO Capital Markets lifted their target price on Roblox from $55.00 to $57.00 and gave the stock an outperform rating in a report on Thursday, February 8th. Barclays raised Roblox from an underweight rating to an equal weight rating and lifted their target price for the stock from $26.00 to $46.00 in a report on Thursday, February 8th. Finally, Needham & Company LLC lifted their target price on Roblox from $51.00 to $55.00 and gave the stock a buy rating in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Roblox has a consensus rating of Moderate Buy and an average target price of $47.60.

Roblox Price Performance

Shares of Roblox stock opened at $34.97 on Monday. The stock’s 50-day simple moving average is $38.84 and its 200-day simple moving average is $38.99. Roblox has a 52 week low of $24.88 and a 52 week high of $47.20. The company has a market capitalization of $20.67 billion, a price-to-earnings ratio of -18.70 and a beta of 1.63. 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 (NYSE:RBLX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.05. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned ($0.48) earnings per share. The business’s revenue was up 25.3% on a year-over-year basis. As a group, analysts expect that Roblox will post -2.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO David Baszucki sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $44.15, for a total transaction of $8,830,000.00. Following the transaction, the chief executive officer now owns 1 shares of the company’s stock, valued at $44.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Mark Reinstra sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $36.69, for a total transaction of $146,760.00. Following the transaction, the insider now owns 359,453 shares of the company’s stock, valued at $13,188,330.57. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Baszucki sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were 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 owns 1 shares of the company’s stock, valued at approximately $44.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have 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

Several hedge funds and other institutional investors have recently made changes to their positions in RBLX. Vanguard Group Inc. increased its position 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 period. Ieq Capital LLC increased 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 acquiring an additional 5,604,995 shares during the period. Franklin Resources Inc. increased 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 acquiring an additional 5,162,833 shares during the period. Morgan Stanley increased 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 acquiring 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 $216,194,000. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.