Benchmark Reaffirms Buy Rating for Roblox (NYSE:RBLX)

Roblox (NYSE:RBLX)‘s stock had its “buy” rating reissued by equities research analysts at Benchmark in a research report issued on Tuesday,Benzinga reports. They currently have a $71.00 target price on the stock. Benchmark’s target price suggests a potential upside of 22.06% from the company’s current price.

Several other brokerages have also recently issued reports on RBLX. Piper Sandler reissued an “overweight” rating and set a $72.00 target price (up previously from $65.00) on shares of Roblox in a report on Tuesday, January 28th. Macquarie raised their price objective on Roblox from $71.00 to $76.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Wells Fargo & Company lifted their price target on Roblox from $58.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Needham & Company LLC lifted their price target on Roblox from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Citigroup lifted their price target on Roblox from $63.00 to $82.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Roblox presently has an average rating of “Moderate Buy” and an average price target of $64.19.

Roblox Trading Up 3.9 %

NYSE:RBLX opened at $58.17 on Tuesday. Roblox has a 12 month low of $29.55 and a 12 month high of $75.74. The firm has a fifty day simple moving average of $63.63 and a 200-day simple moving average of $54.68. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. The company has a market capitalization of $36.01 billion, a P/E ratio of -40.11 and a beta of 1.49.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. On average, equities research analysts anticipate that Roblox will post -1.49 earnings per share for the current year.

Insider Buying and Selling at Roblox

In other news, CFO Michael Guthrie sold 26,154 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $65.94, for a total transaction of $1,724,594.76. Following the completion of the transaction, the chief financial officer now directly owns 417,079 shares of the company’s stock, valued at approximately $27,502,189.26. This represents a 5.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Baszucki sold 34,099 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $57.05, for a total value of $1,945,347.95. Following the transaction, the chief executive officer now directly owns 221,983 shares of the company’s stock, valued at approximately $12,664,130.15. This represents a 13.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 950,466 shares of company stock worth $61,646,297 over the last quarter. 22.15% of the stock is currently owned by company insiders.

Institutional Trading of Roblox

Large investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in Roblox by 308.2% during the 3rd quarter. Principal Financial Group Inc. now owns 181,808 shares of the company’s stock valued at $8,047,000 after acquiring an additional 137,267 shares during the last quarter. Victory Capital Management Inc. raised its stake in Roblox by 1.9% during the 3rd quarter. Victory Capital Management Inc. now owns 164,035 shares of the company’s stock valued at $7,260,000 after acquiring an additional 3,114 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Roblox by 5.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,691 shares of the company’s stock valued at $296,000 after acquiring an additional 321 shares during the last quarter. KBC Group NV raised its stake in Roblox by 21.0% during the 3rd quarter. KBC Group NV now owns 64,633 shares of the company’s stock valued at $2,860,000 after acquiring an additional 11,201 shares during the last quarter. Finally, Huntington National Bank raised its stake in Roblox by 277.0% during the 3rd quarter. Huntington National Bank now owns 1,048 shares of the company’s stock valued at $46,000 after acquiring an additional 770 shares during the last quarter. 94.46% of the stock is 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.