Brokerages Set Roblox Corporation (NYSE:RBLX) PT at $83.52

Roblox Corporation (NYSE:RBLX - Get Free Report) has received an average rating of "Moderate Buy" from the twenty-six ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $83.52.

Several research analysts have recently commented on the company. Canaccord Genuity Group boosted their target price on Roblox from $80.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wells Fargo & Company increased their price objective on shares of Roblox from $78.00 to $116.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Wedbush raised shares of Roblox to a "strong-buy" rating in a research note on Tuesday, July 1st. FBN Securities began coverage on shares of Roblox in a research note on Friday, March 28th. They issued a "sector perform" rating and a $65.00 target price on the stock. Finally, The Goldman Sachs Group raised their target price on shares of Roblox from $63.00 to $80.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th.

Roblox Stock Performance

Shares of Roblox stock traded down $1.67 on Thursday, reaching $105.01. The stock had a trading volume of 5,636,591 shares, compared to its average volume of 8,040,183. The business's 50-day moving average price is $90.46 and its two-hundred day moving average price is $71.64. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.02 and a current ratio of 1.02. Roblox has a fifty-two week low of $35.30 and a fifty-two week high of $108.00. The stock has a market cap of $71.23 billion, a P/E ratio of -78.37 and a beta of 1.60.

Roblox (NYSE:RBLX - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.09. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.14 billion. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The business's quarterly revenue was up 30.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.43) EPS. On average, sell-side analysts forecast that Roblox will post -1.49 EPS for the current year.

Insiders Place Their Bets

In related news, CEO David Baszucki sold 1,375,002 shares of Roblox stock in a transaction dated 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 sale, the chief executive officer owned 221,983 shares of the company's stock, valued at approximately $16,024,952.77. The trade was a 86.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 6,645,690 shares of company stock valued at $592,729,502 over the last 90 days. Insiders own 12.92% of the company's stock.

Hedge Funds Weigh In On Roblox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC boosted 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 worth $1,873,000 after purchasing an additional 161 shares during the period. SBI Securities Co. Ltd. boosted its position in Roblox by 1.2% during the first quarter. SBI Securities Co. Ltd. now owns 13,295 shares of the company's stock worth $775,000 after purchasing an additional 163 shares during the period. Commerce Bank boosted its position in Roblox by 2.7% during the first quarter. Commerce Bank now owns 7,257 shares of the company's stock worth $423,000 after purchasing an additional 191 shares during the period. Advisors Asset Management Inc. boosted its position in Roblox by 6.1% during the first quarter. Advisors Asset Management Inc. now owns 3,323 shares of the company's stock worth $194,000 after purchasing an additional 192 shares during the period. Finally, Rakuten Securities Inc. boosted its position in Roblox by 25.6% during the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company's stock worth $55,000 after purchasing an additional 195 shares during the period. 94.46% of the stock is 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.