Roblox (NYSE:RBLX) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Roblox (NYSE:RBLX) announced its quarterly earnings data on Thursday. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10, Briefing.com reports. The firm had revenue of $923.76 million for the quarter, compared to the consensus estimate of $918.85 million. Roblox had a negative net margin of 41.15% and a negative return on equity of 770.71%. The firm’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.44) earnings per share. Roblox updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Roblox Stock Up 3.7 %

Shares of Roblox stock traded up $1.14 during trading hours on Friday, reaching $31.56. 13,898,640 shares of the company’s stock were exchanged, compared to its average volume of 8,163,550. The stock has a market cap of $19.93 billion, a P/E ratio of -16.89 and a beta of 1.63. Roblox has a fifty-two week low of $24.88 and a fifty-two week high of $47.20. The company has a 50 day moving average of $37.81 and a two-hundred day moving average of $39.39. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 14.64.

Analyst Upgrades and Downgrades

RBLX has been the topic of several recent research reports. BMO Capital Markets raised their price objective on shares of Roblox from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Moffett Nathanson upgraded shares of Roblox from a “sell” rating to a “neutral” rating and set a $26.00 price objective for the company in a report on Friday. The Goldman Sachs Group raised Roblox from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $35.00 to $48.00 in a research report on Thursday, February 8th. Benchmark reissued a “buy” rating and set a $50.00 price objective on shares of Roblox in a report on Tuesday, April 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $40.00 target price (down previously from $56.00) on shares of Roblox in a research report on Friday. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.81.

Insider Buying and Selling at Roblox

In related news, CAO Amy Marie Rawlings sold 3,777 shares of Roblox stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total transaction of $153,497.28. Following the completion of the sale, the chief accounting officer now directly owns 96,125 shares of the company’s stock, valued at approximately $3,906,520. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO David Baszucki sold 200,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $44.09, for a total transaction of $8,818,000.00. Following the completion of the sale, the chief executive officer now directly owns 1 shares in the company, valued at approximately $44.09. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amy Marie Rawlings sold 3,777 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total transaction of $153,497.28. Following the completion of the transaction, the chief accounting officer now directly owns 96,125 shares of the company’s stock, valued at approximately $3,906,520. The disclosure for this sale can be found here. Insiders sold a total of 512,374 shares of company stock worth $20,809,338 over the last quarter. 22.15% of the stock is currently owned by insiders.

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.