Roblox (NYSE:RBLX) Sets New 12-Month High - Time to Buy?

Shares of Roblox Corporation (NYSE:RBLX - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $127.99 and last traded at $127.08, with a volume of 4045538 shares trading hands. The stock had previously closed at $124.50.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RBLX. Canaccord Genuity Group lifted their price target on Roblox from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. BMO Capital Markets restated an "outperform" rating and set a $95.00 price target (up from $82.00) on shares of Roblox in a research report on Friday, May 30th. Oppenheimer reissued an "outperform" rating and issued a $125.00 price target (up from $80.00) on shares of Roblox in a research note on Wednesday, June 18th. Piper Sandler reaffirmed an "overweight" rating and set a $105.00 price target (up previously from $85.00) on shares of Roblox in a research report on Thursday, June 5th. Finally, Barclays increased their price target 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 equities research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Roblox presently has an average rating of "Moderate Buy" and an average price target of $86.68.

Roblox Trading Down 0.0%

The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.02 and a current ratio of 1.02. The stock's fifty day moving average is $96.51 and its 200 day moving average is $74.53. The stock has a market cap of $84.42 billion, a P/E ratio of -92.88 and a beta of 1.60.

Roblox (NYSE:RBLX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.09. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. Roblox's revenue was up 30.6% compared to the same quarter last year. During the same period last year, the company posted ($0.43) earnings per share. As a group, equities research analysts predict that Roblox Corporation will post -1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO David Baszucki sold 1,375,002 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $72.19, for a total transaction of $99,261,394.38. Following the sale, the chief executive officer owned 221,983 shares in the company, valued at approximately $16,024,952.77. This trade represents a 86.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 6,645,690 shares of company stock worth $592,729,502 in the last quarter. Corporate insiders own 12.92% of the company's stock.

Institutional Investors Weigh In On Roblox

Institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in Roblox by 68.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,675 shares of the company's stock valued at $6,278,000 after buying an additional 24,192 shares during the period. Lecap Asset Management Ltd. bought a new position in shares of Roblox during the 2nd quarter worth about $546,000. ASR Vermogensbeheer N.V. lifted its stake in Roblox by 54.4% during the second quarter. ASR Vermogensbeheer N.V. now owns 51,425 shares of the company's stock worth $5,409,000 after purchasing an additional 18,114 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in Roblox by 47.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 847,544 shares of the company's stock worth $89,162,000 after purchasing an additional 271,910 shares during the period. Finally, QTR Family Wealth LLC bought a new position in Roblox during the 2nd quarter valued at about $456,000. Institutional investors own 94.46% of the company's stock.

Roblox Company Profile

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.

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