Canaccord Genuity Group Forecasts Strong Price Appreciation for Roblox (NYSE:RBLX) Stock

Roblox (NYSE:RBLX) had its price objective raised by Canaccord Genuity Group from $80.00 to $84.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently issued reports on RBLX. The Goldman Sachs Group lifted their price objective on Roblox from $55.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Moffett Nathanson cut Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price target for the company. in a research note on Friday, February 7th. Macquarie raised their price objective on shares of Roblox from $71.00 to $76.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. OTR Global raised shares of Roblox from a “mixed” rating to a “positive” rating in a research report on Monday, February 3rd. Finally, Needham & Company LLC raised their price target on shares of Roblox from $60.00 to $72.00 and gave the company a “buy” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.27.

Roblox Trading Up 7.5 %

NYSE:RBLX opened at $74.19 on Friday. The stock has a market cap of $46.63 billion, a PE ratio of -51.17 and a beta of 1.49. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $75.74. The company has a debt-to-equity ratio of 4.82, a current ratio of 1.02 and a quick ratio of 0.98. The stock’s 50-day moving average is $59.73 and its two-hundred day moving average is $58.37.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.09. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.14 billion. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. The company’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.43) EPS. As a group, equities research analysts forecast that Roblox will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Michael Guthrie sold 26,154 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $65.94, for a total value of $1,724,594.76. Following the completion of the sale, the chief financial officer now directly owns 417,079 shares in the company, valued at approximately $27,502,189.26. This trade represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark Reinstra sold 19,525 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 $1,287,478.50. Following the transaction, the insider now owns 339,206 shares in the company, valued at approximately $22,367,243.64. This trade represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 764,399 shares of company stock worth $45,431,661 in the last 90 days. 22.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RBLX. Vanguard Group Inc. boosted its holdings in Roblox by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 53,239,693 shares of the company’s stock valued at $3,080,449,000 after acquiring an additional 462,450 shares during the last quarter. FMR LLC raised its stake in shares of Roblox by 89.4% during the fourth quarter. FMR LLC now owns 39,658,528 shares of the company’s stock worth $2,294,642,000 after buying an additional 18,715,837 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in Roblox by 74,400.8% in the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock valued at $1,063,365,000 after acquiring an additional 17,312,325 shares during the last quarter. Ieq Capital LLC grew its holdings in Roblox by 26.8% during the 4th quarter. Ieq Capital LLC now owns 16,592,623 shares of the company’s stock worth $960,049,000 after acquiring an additional 3,507,901 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Roblox by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 8,579,173 shares of the company’s stock valued at $495,564,000 after acquiring an additional 246,610 shares during the last quarter. Institutional investors and hedge funds 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.