Roblox (NYSE:RBLX) Hits New 1-Year High After Analyst Upgrade

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Roblox Corporation (NYSE:RBLX - Get Free Report) hit a new 52-week high during mid-day trading on Thursday after BMO Capital Markets raised their price target on the stock from $135.00 to $150.00. BMO Capital Markets currently has an outperform rating on the stock. Roblox traded as high as $148.66 and last traded at $145.03, with a volume of 2151729 shares. The stock had previously closed at $124.94.

A number of other research firms have also weighed in on RBLX. Oppenheimer reaffirmed an "outperform" rating and issued a $125.00 price objective (up from $80.00) on shares of Roblox in a research note on Wednesday, June 18th. Bank of America upped their price objective on shares of Roblox from $86.00 to $103.00 and gave the stock a "buy" rating in a research report on Thursday, June 5th. JPMorgan Chase & Co. boosted their price target on shares of Roblox from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Canaccord Genuity Group increased their price target on shares of Roblox from $125.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Piper Sandler lifted their price objective on shares of Roblox from $105.00 to $138.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $117.59.

Insider Activity

In other news, Director Anthony P. Lee sold 66,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $103.89, for a total transaction of $6,856,740.00. Following the completion of the sale, the director owned 284,488 shares of the company's stock, valued at approximately $29,555,458.32. This represents a 18.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Matthew D. Kaufman sold 6,000 shares of the company's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $118.51, for a total transaction of $711,060.00. Following the sale, the insider owned 307,223 shares of the company's stock, valued at $36,408,997.73. This represents a 1.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,651,690 shares of company stock valued at $593,440,562. Insiders own 12.92% of the company's stock.

Institutional Investors Weigh In On Roblox

Several institutional investors and hedge funds have recently bought and sold shares of RBLX. Whipplewood Advisors LLC purchased a new stake in Roblox in the second quarter worth about $34,000. ORG Partners LLC purchased a new stake in Roblox in the second quarter worth $33,000. Generali Asset Management SPA SGR bought a new position in Roblox in the second quarter worth $40,000. Kiker Wealth Management LLC lifted its position in Roblox by 2,646.7% during the second quarter. Kiker Wealth Management LLC now owns 412 shares of the company's stock valued at $43,000 after buying an additional 397 shares during the period. Finally, Fifth Third Bancorp lifted its position in Roblox by 124.7% during the second quarter. Fifth Third Bancorp now owns 537 shares of the company's stock valued at $56,000 after buying an additional 298 shares during the period. Hedge funds and other institutional investors own 94.46% of the company's stock.

Roblox Trading Down 9.2%

The stock's fifty day moving average price is $105.05 and its 200 day moving average price is $78.67. The stock has a market cap of $84.89 billion, a P/E ratio of -87.52 and a beta of 1.63. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39.

Roblox (NYSE:RBLX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.04). Roblox had a negative return on equity of 417.87% and a negative net margin of 23.67%. The business had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter last year, the company posted ($0.32) EPS. Roblox's revenue for the quarter was up 50.5% compared to the same quarter last year. Equities research analysts expect that Roblox Corporation will post -1.49 earnings per share for the current year.

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.