Barclays Forecasts Strong Price Appreciation for Roblox (NYSE:RBLX) Stock

Roblox (NYSE:RBLX) had its target price lifted by analysts at Barclays from $62.00 to $120.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential downside of 4.12% from the company’s current price.

RBLX has been the topic of several other research reports. Piper Sandler lifted their price target on shares of Roblox from $105.00 to $138.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their target price on shares of Roblox from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 16th. Benchmark increased their price target on shares of Roblox from $71.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Oppenheimer reissued an “outperform” rating and set a $125.00 price objective (up previously from $80.00) on shares of Roblox in a research note on Wednesday, June 18th. Finally, Needham & Company LLC boosted their price objective on shares of Roblox from $79.00 to $159.00 and gave the stock a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.59.

Roblox Stock Down 9.2%

Shares of NYSE RBLX opened at $125.16 on Friday. The company has a market cap of $84.89 billion, a price-to-earnings ratio of -87.52 and a beta of 1.63. The firm’s fifty day moving average is $105.05 and its 200 day moving average is $78.67. Roblox has a 52 week low of $35.30 and a 52 week high of $150.59. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.39.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.04). The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.20 billion. Roblox had a negative net margin of 23.67% and a negative return on equity of 417.87%. The business’s revenue was up 50.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.32) EPS. On average, equities research analysts expect that Roblox will post -1.49 earnings per share for the current year.

Insider Activity

In related news, Director Anthony P. Lee sold 66,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $103.89, for a total value of $6,856,740.00. Following the completion of the sale, the director directly owned 284,488 shares of the company’s stock, valued at approximately $29,555,458.32. This represents a 18.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Matthew D. Kaufman sold 6,000 shares of the stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $118.51, for a total transaction of $711,060.00. Following the completion of the sale, the insider directly 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. Insiders sold 6,651,690 shares of company stock valued at $593,440,562 in the last quarter. 12.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roblox

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Roblox by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 57,640,317 shares of the company’s stock worth $3,359,854,000 after acquiring an additional 4,400,624 shares in the last quarter. FMR LLC boosted its stake in Roblox by 89.4% in the 4th quarter. FMR LLC now owns 39,658,528 shares of the company’s stock worth $2,294,642,000 after purchasing an additional 18,715,837 shares during the period. Ieq Capital LLC boosted its position in shares of Roblox by 13.8% during the 1st quarter. Ieq Capital LLC now owns 18,889,973 shares of the company’s stock valued at $1,101,097,000 after acquiring an additional 2,297,350 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Roblox by 217.4% during the 1st quarter. AQR Capital Management LLC now owns 8,770,427 shares of the company’s stock valued at $504,387,000 after acquiring an additional 6,007,322 shares during the last quarter. Finally, Geode Capital Management LLC boosted 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. 94.46% of the stock is owned by hedge funds and other institutional investors.

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.