Roblox's (RBLX) Outperform Rating Reaffirmed at Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Roblox (NYSE:RBLX - Free Report) in a research report released on Wednesday morning,Benzinga reports. Oppenheimer currently has a $125.00 price target on the stock, up from their prior price target of $80.00.

A number of other equities research analysts have also commented on the company. Barclays increased their price target on Roblox from $46.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. increased their price target on Roblox from $80.00 to $100.00 and gave the company an "overweight" rating in a research report on Tuesday, June 3rd. Piper Sandler restated an "overweight" rating and issued a $105.00 target price (up previously from $85.00) on shares of Roblox in a research note on Thursday, June 5th. The Goldman Sachs Group boosted their target price on Roblox from $63.00 to $80.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. Finally, Benchmark boosted their target price on Roblox from $71.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $78.04.

Roblox Price Performance

Roblox stock traded down $0.51 during mid-day trading on Wednesday, reaching $102.14. 9,953,279 shares of the company were exchanged, compared to its average volume of 7,976,663. Roblox has a 12 month low of $34.62 and a 12 month high of $103.57. The company has a fifty day simple moving average of $79.58 and a 200-day simple moving average of $67.57. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $69.28 billion, a PE ratio of -76.22 and a beta of 1.56.

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, topping analysts' consensus estimates of ($0.41) by $0.09. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the company earned ($0.43) earnings per share. The firm's revenue was up 30.6% compared to the same quarter last year. As a group, equities research analysts expect that Roblox will post -1.49 earnings per share for the current fiscal year.

Insider Activity at Roblox

In related news, insider Matthew D. Kaufman sold 6,000 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $57.99, for a total value of $347,940.00. Following the completion of the transaction, the insider now directly owns 364,244 shares of the company's stock, valued at $21,122,509.56. This represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anthony P. Lee sold 21,200 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $61.37, for a total transaction of $1,301,044.00. Following the completion of the transaction, the director now directly owns 6,589,757 shares of the company's stock, valued at approximately $404,413,387.09. The trade was a 0.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,417,995 shares of company stock valued at $553,295,933 over the last three months. 12.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RBLX. Strs Ohio purchased a new stake in Roblox in the first quarter worth approximately $836,000. Acadian Asset Management LLC boosted its stake in shares of Roblox by 10.4% during the 1st quarter. Acadian Asset Management LLC now owns 1,405,813 shares of the company's stock worth $81,921,000 after acquiring an additional 132,051 shares during the last quarter. IFM Investors Pty Ltd lifted its position in shares of Roblox by 1.0% in the first quarter. IFM Investors Pty Ltd now owns 86,755 shares of the company's stock valued at $5,057,000 after acquiring an additional 817 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Roblox in the 1st quarter worth approximately $728,000. Finally, Fortis Capital Advisors LLC bought a new position in shares of Roblox during the first quarter worth $728,000. 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.