Oppenheimer Issues Positive Forecast for Roblox (NYSE:RBLX) Stock Price

Roblox (NYSE:RBLX - Free Report) had its target price increased by Oppenheimer from $70.00 to $80.00 in a research report released on Monday morning, Marketbeat.com reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also issued research reports about the stock. Citigroup lifted their target price on shares of Roblox from $78.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. OTR Global upgraded shares of Roblox from a "mixed" rating to a "positive" rating in a report on Monday, February 3rd. Wells Fargo & Company increased their price target on Roblox from $70.00 to $78.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. upped their price target on shares of Roblox from $62.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, January 10th. Finally, Barclays upped their target price on shares of Roblox from $46.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $67.91.

Roblox Price Performance

Roblox stock traded up $1.84 on Monday, reaching $71.89. The company's stock had a trading volume of 7,283,366 shares, compared to its average volume of 7,708,258. The business's fifty day moving average price is $60.65 and its 200 day moving average price is $59.55. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. The company has a market cap of $45.29 billion, a price-to-earnings ratio of -49.58 and a beta of 1.46. Roblox has a twelve month low of $30.83 and a twelve month high of $75.74.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.09. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the business earned ($0.43) EPS. The business's revenue for the quarter was up 30.6% compared to the same quarter last year. Equities analysts expect that Roblox will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Roblox

In related news, CAO Amy Marie Rawlings sold 4,468 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $61.34, for a total value of $274,067.12. Following the completion of the sale, the chief accounting officer now directly owns 75,583 shares in the company, valued at approximately $4,636,261.22. The trade was a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David Baszucki sold 1,375,002 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $72.19, for a total value of $99,261,394.38. Following the transaction, the chief executive officer now owns 221,983 shares in the company, valued at approximately $16,024,952.77. This trade represents a 86.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,164,386 shares of company stock valued at $146,492,013 in the last ninety days. 22.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roblox

Several institutional investors and hedge funds have recently bought and sold shares of RBLX. MetLife Investment Management LLC raised its position in Roblox by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 32,374 shares of the company's stock valued at $1,873,000 after purchasing an additional 161 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Roblox by 1.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 13,295 shares of the company's stock valued at $775,000 after purchasing an additional 163 shares during the last quarter. Commerce Bank lifted its position in shares of Roblox by 2.7% during the 1st quarter. Commerce Bank now owns 7,257 shares of the company's stock worth $423,000 after buying an additional 191 shares during the last quarter. Rakuten Securities Inc. boosted its stake in Roblox by 25.6% in the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company's stock valued at $55,000 after buying an additional 195 shares in the last quarter. Finally, Ballentine Partners LLC grew its position in Roblox by 0.3% in the first quarter. Ballentine Partners LLC now owns 77,513 shares of the company's stock valued at $4,518,000 after acquiring an additional 198 shares during the last quarter. Institutional investors own 94.46% 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.