Roblox Corporation (NYSE:RBLX) Stock Has Average Target Price of $60.79 According to Brokerages

Shares of Roblox Corporation (NYSE:RBLX) have earned a consensus recommendation of “Hold” from the thirty-one analysts that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $60.79.

A number of research firms have weighed in on RBLX. Oppenheimer reiterated an “outperform” rating on shares of Roblox in a research note on Friday, September 11th. Moffett Nathanson reaffirmed a “neutral” rating and issued a $40.00 price target on shares of Roblox in a report on Monday, August 3rd. Morgan Stanley dropped their price objective on Roblox from $62.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Barclays decreased their target price on Roblox from $60.00 to $47.00 and set an “equal weight” rating for the company in a research report on Monday, August 3rd. Finally, Wells Fargo & Company boosted their target price on Roblox from $46.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, September 14th.

Insider Buying and Selling

In other Roblox news, CFO Naveen K. Chopra sold 17,509 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $37.96, for a total transaction of $664,641.64. Following the sale, the chief financial officer directly owned 363,249 shares of the company’s stock, valued at $13,788,932.04. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sean Buckley sold 4,321 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $38.68, for a total transaction of $167,136.28. Following the transaction, the insider owned 87,213 shares of the company’s stock, valued at $3,373,398.84. This represents a 4.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 180,724 shares of company stock worth $7,032,934 in the last quarter. 10.05% of the stock is currently owned by company insiders.

Institutional Trading of Roblox

Institutional investors have recently modified their holdings of the business. SkyView Investment Advisors LLC bought a new position in Roblox in the 2nd quarter worth approximately $245,000. National Pension Service raised its holdings in Roblox by 34.0% during the 2nd quarter. National Pension Service now owns 1,243,524 shares of the company’s stock valued at $67,623,000 after acquiring an additional 315,244 shares during the period. NorthRock Partners LLC lifted its position in shares of Roblox by 13.7% during the second quarter. NorthRock Partners LLC now owns 30,413 shares of the company’s stock worth $1,654,000 after acquiring an additional 3,660 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Roblox by 18.6% during the second quarter. NewEdge Advisors LLC now owns 16,977 shares of the company’s stock worth $923,000 after acquiring an additional 2,662 shares in the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of Roblox by 25.5% in the second quarter. IFP Advisors Inc now owns 33,527 shares of the company’s stock worth $1,823,000 after acquiring an additional 6,808 shares during the period. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

Roblox Trading Up 0.9%

NYSE RBLX opened at $44.51 on Friday. The business’s fifty day moving average is $42.26 and its 200-day moving average is $48.18. The company has a debt-to-equity ratio of 7.82, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $29.82 billion, a price-to-earnings ratio of -31.13 and a beta of 1.47. Roblox has a one year low of $33.88 and a one year high of $141.95.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.08. Roblox had a negative net margin of 17.60% and a negative return on equity of 292.85%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the business earned ($0.41) earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts predict that Roblox will post -1.39 EPS for the current year.

About Roblox

Roblox Corporation (NYSE:RBLX) operates an online entertainment platform where users can create, share and experience interactive 3D content. The platform hosts user-generated games and other virtual experiences across genres, including entertainment, social activities, education and simulated environments.

Roblox provides development tools through Roblox Studio, enabling creators to build and publish experiences, digital items and other content. Users can customize avatars, interact with others and access the platform across supported computers, mobile devices, gaming consoles and virtual reality systems.