Roblox (NYSE:RBLX) Receives “Buy” Rating from Benchmark

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

Several other research analysts also recently weighed in on RBLX. The Goldman Sachs Group raised shares of Roblox from a sell rating to a neutral rating and upped their target price for the stock from $35.00 to $48.00 in a report on Thursday, February 8th. Needham & Company LLC boosted 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. JPMorgan Chase & Co. upgraded shares of Roblox from a neutral rating to an overweight rating and boosted their price target for the stock from $41.00 to $48.00 in a research note on Tuesday. Wedbush boosted their price target on shares of Roblox from $53.00 to $56.00 and gave the stock an outperform rating in a research note on Thursday, February 8th. Finally, BMO Capital Markets boosted their price target on shares of Roblox from $55.00 to $57.00 and gave the stock an outperform rating in a research note on Thursday, February 8th. Four 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 data from MarketBeat.com, Roblox presently has an average rating of Moderate Buy and a consensus target price of $47.60.

Roblox Trading Up 1.3 %

Shares of Roblox stock opened at $35.98 on Tuesday. The company has a market capitalization of $21.27 billion, a P/E ratio of -19.24 and a beta of 1.63. The company has a debt-to-equity ratio of 14.64, a quick ratio of 1.07 and a current ratio of 1.07. The company has a fifty day moving average of $38.53 and a 200 day moving average of $39.00. 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 earnings results on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.05. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.05 billion. Roblox had a negative net margin of 41.15% and a negative return on equity of 770.71%. Roblox’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.48) EPS. On average, sell-side analysts anticipate that Roblox will post -2.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Roblox news, Director Gregory Baszucki sold 13,000 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $35.08, for a total value of $456,040.00. Following the transaction, the director now directly owns 9,747,603 shares in the company, valued at approximately $341,945,913.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Roblox news, Director Gregory Baszucki sold 13,000 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $35.08, for a total value of $456,040.00. Following the transaction, the director now directly owns 9,747,603 shares in the company, valued at approximately $341,945,913.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $8,830,000.00. Following the completion of the transaction, the chief executive officer now owns 1 shares in the company, valued at $44.15. The disclosure for this sale can be found here. Insiders have sold 712,374 shares of company stock worth $29,639,338 in the last three months. Corporate insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of hedge funds and other institutional investors have recently modified their holdings of RBLX. Vanguard Group Inc. boosted its stake in shares of Roblox by 29.0% during the third quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock valued at $1,291,414,000 after purchasing an additional 10,025,779 shares in the last quarter. Ieq Capital LLC boosted its stake in shares of Roblox by 158.0% during the third 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 in the last quarter. Franklin Resources Inc. boosted its stake in shares of Roblox by 195.1% during the fourth 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 in the last quarter. Morgan Stanley boosted its stake in shares of Roblox by 13.7% during the third 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 in the last quarter. Finally, Norges Bank bought a new position in shares of Roblox during the fourth quarter valued at approximately $216,194,000. 91.08% of the stock is currently owned by institutional investors.

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.