Stifel Nicolaus Reaffirms “Buy” Rating for Roblox (NYSE:RBLX)

Stifel Nicolaus reaffirmed their buy rating on shares of Roblox (NYSE:RBLX) in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a $53.00 price target on the stock.

RBLX has been the subject of several other reports. Barclays upgraded Roblox from an underweight rating to an equal weight rating and upped their price objective for the stock from $26.00 to $46.00 in a research report on Thursday, February 8th. The Goldman Sachs Group upgraded Roblox from a sell rating to a neutral rating and increased their target price for the company from $35.00 to $48.00 in a research report on Thursday, February 8th. Roth Mkm increased their target price on Roblox from $50.00 to $55.00 and gave the company a buy rating in a research report on Thursday, February 8th. Wedbush increased their target price on Roblox from $53.00 to $56.00 and gave the company an outperform rating in a research report on Thursday, February 8th. Finally, Benchmark reiterated a buy rating and issued a $46.00 target price on shares of Roblox in a research report on Tuesday, January 23rd. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Roblox presently has a consensus rating of Moderate Buy and an average target price of $47.60.

Roblox Price Performance

Shares of RBLX stock opened at $34.97 on Monday. 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 has a twelve month low of $24.88 and a twelve month high of $47.20. The company has a market cap of $20.67 billion, a P/E ratio of -18.70 and a beta of 1.63. The business has a fifty day simple moving average of $38.84 and a 200 day simple moving average of $38.99.

Roblox (NYSE:RBLX) last announced its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the company earned ($0.48) EPS. Roblox’s revenue for the quarter was up 25.3% on a year-over-year basis. On average, sell-side analysts forecast that Roblox will post -2.1 EPS for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $36.06, for a total value of $1,081,800.00. Following the transaction, the chief financial officer now owns 396,709 shares of the company’s stock, valued at $14,305,326.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Roblox news, CAO Amy Marie Rawlings sold 3,777 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total value of $153,497.28. Following the transaction, the chief accounting officer now owns 96,125 shares of the company’s stock, valued at $3,906,520. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $36.06, for a total value of $1,081,800.00. Following the transaction, the chief financial officer now directly owns 396,709 shares in the company, valued at approximately $14,305,326.54. The disclosure for this sale can be found here. Insiders have sold a total of 699,374 shares of company stock valued at $29,183,298 over the last 90 days. Insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Roblox during the 4th quarter valued at $25,000. Blue Trust Inc. lifted its position in shares of Roblox by 566.5% during the 4th quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock valued at $49,000 after buying an additional 912 shares during the last quarter. Allworth Financial LP lifted its position in shares of Roblox by 90.2% during the 4th quarter. Allworth Financial LP now owns 1,238 shares of the company’s stock valued at $57,000 after buying an additional 587 shares during the last quarter. Rakuten Securities Inc. purchased a new position in shares of Roblox during the 4th quarter valued at $58,000. Finally, Principal Securities Inc. purchased a new position in shares of Roblox during the 4th quarter valued at $59,000. 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.