Roblox (NYSE:RBLX) Given New $122.00 Price Target at BTIG Research

Roblox (NYSE:RBLX) had its target price reduced by research analysts at BTIG Research from $141.00 to $122.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s target price indicates a potential upside of 111.37% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC lowered their price target on Roblox from $159.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Jefferies Financial Group set a $85.00 price objective on Roblox in a research note on Thursday, January 15th. Deutsche Bank Aktiengesellschaft set a $115.00 price objective on Roblox in a research report on Tuesday, January 20th. DA Davidson began coverage on shares of Roblox in a research note on Wednesday, March 4th. They set a “neutral” rating and a $65.00 price objective for the company. Finally, The Goldman Sachs Group reduced their price objective on Roblox from $180.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.52.

Roblox Stock Performance

Shares of RBLX opened at $57.72 on Wednesday. The company has a 50-day simple moving average of $63.69 and a two-hundred day simple moving average of $90.80. The firm has a market capitalization of $38.19 billion, a PE ratio of -37.24 and a beta of 1.67. Roblox has a one year low of $50.10 and a one year high of $150.59. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.96 and a quick ratio of 0.96.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, February 5th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.04. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $2.08 billion. Roblox had a negative net margin of 21.78% and a negative return on equity of 304.42%. The company’s quarterly revenue was up 122.6% on a year-over-year basis. During the same period last year, the firm earned ($0.33) earnings per share. On average, analysts anticipate that Roblox will post -1.49 EPS for the current fiscal year.

Insider Activity

In other news, Director Anthony P. Lee sold 59,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $79.96, for a total value of $4,717,640.00. Following the completion of the sale, the director owned 257,258 shares of the company’s stock, valued at approximately $20,570,349.68. The trade was a 18.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Arvind Chakravarthy sold 40,646 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $67.23, for a total value of $2,732,630.58. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 636,248 shares of company stock valued at $46,013,542. 12.92% of the stock is owned by insiders.

Institutional Trading of Roblox

Several hedge funds and other institutional investors have recently made changes to their positions in RBLX. National Pension Service increased its stake in Roblox by 7.3% in the 3rd quarter. National Pension Service now owns 1,697,820 shares of the company’s stock worth $235,182,000 after buying an additional 115,096 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Roblox by 298.4% in the third quarter. SG Americas Securities LLC now owns 329,317 shares of the company’s stock valued at $45,617,000 after purchasing an additional 246,652 shares during the period. Yarbrough Capital LLC lifted its stake in shares of Roblox by 1,514.5% in the 4th quarter. Yarbrough Capital LLC now owns 57,331 shares of the company’s stock valued at $4,646,000 after purchasing an additional 53,780 shares during the period. Cypress Wealth Services LLC acquired a new position in shares of Roblox during the fourth quarter valued at approximately $2,373,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new stake in Roblox during the third quarter worth about $2,895,000. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Roblox Company Profile

Roblox Corporation operates Roblox, a user-generated online platform that enables people to create, share and monetize immersive 3D experiences and games. The core offering centers on Roblox Studio, a development environment that allows independent creators and studios to design interactive worlds using the company’s building tools and scripting language. Content on the platform spans games, virtual hangouts, branded experiences and live events, all delivered through a persistent social environment.

Roblox’s business model is built around its virtual economy and creator ecosystem.