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

Roblox (NYSE:RBLX - Free Report) had its target price hoisted by Oppenheimer from $70.00 to $80.00 in a research report report published on Monday morning, MarketBeat reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. Citigroup boosted their price objective on shares of Roblox from $78.00 to $85.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Benchmark increased their target price on shares of Roblox from $71.00 to $77.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Roth Mkm boosted their target price on Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. lifted their price objective on Roblox from $62.00 to $72.00 and gave the company an "overweight" rating in a research report on Friday, January 10th. Finally, Barclays increased their target price on Roblox from $46.00 to $62.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $67.91.

Roblox Stock Performance

Shares of NYSE:RBLX traded up $0.31 during trading on Monday, reaching $70.75. The stock had a trading volume of 881,674 shares, compared to its average volume of 8,001,238. The stock has a fifty day simple moving average of $60.31 and a two-hundred day simple moving average of $59.01. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. Roblox has a 52 week low of $29.55 and a 52 week high of $75.74. The firm has a market capitalization of $44.46 billion, a price-to-earnings ratio of -48.79 and a beta of 1.46.

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

Insider Activity

In related news, insider Arvind Chakravarthy sold 982 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $61.26, for a total transaction of $60,157.32. Following the completion of the transaction, the insider now directly owns 204,261 shares in the company, valued at approximately $12,513,028.86. This trade represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Reinstra sold 19,525 shares of Roblox stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $65.94, for a total value of $1,287,478.50. Following the completion of the sale, the insider now directly owns 339,206 shares in the company, valued at approximately $22,367,243.64. This represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,164,386 shares of company stock worth $146,492,013 in the last 90 days. Corporate insiders own 22.15% of the company's stock.

Institutional Trading of Roblox

A number of hedge funds and other institutional investors have recently made changes to their positions in RBLX. Vanguard Group Inc. lifted its position in Roblox by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 53,239,693 shares of the company's stock worth $3,080,449,000 after buying an additional 462,450 shares in the last quarter. FMR LLC boosted its position in Roblox by 89.4% during the fourth quarter. FMR LLC now owns 39,658,528 shares of the company's stock valued at $2,294,642,000 after purchasing an additional 18,715,837 shares during the last quarter. Wealthfront Advisers LLC grew its stake in Roblox by 74,400.8% in the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company's stock valued at $1,063,365,000 after purchasing an additional 17,312,325 shares in the last quarter. Ieq Capital LLC increased its position in shares of Roblox by 26.8% during the 4th quarter. Ieq Capital LLC now owns 16,592,623 shares of the company's stock worth $960,049,000 after purchasing an additional 3,507,901 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Roblox by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 8,579,173 shares of the company's stock worth $495,564,000 after purchasing an additional 246,610 shares in the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

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.