Canaccord Genuity Group Issues Positive Forecast for Roblox (NYSE:RBLX) Stock Price

Roblox (NYSE:RBLX) had its price objective upped by Canaccord Genuity Group from $50.00 to $60.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the stock.

RBLX has been the topic of several other research reports. Macquarie upped their price target on shares of Roblox from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Barclays raised their price target on Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Wells Fargo & Company upped their price objective on shares of Roblox from $46.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. BTIG Research boosted their price target on shares of Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Wedbush restated an “outperform” rating and set a $49.00 price objective on shares of Roblox in a research report on Friday, October 25th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.55.

Roblox Stock Performance

Shares of Roblox stock traded down $0.28 during trading hours on Friday, reaching $51.44. The company had a trading volume of 12,925,147 shares, compared to its average volume of 9,062,251. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. Roblox has a one year low of $29.55 and a one year high of $52.65. The business has a fifty day simple moving average of $43.67 and a 200 day simple moving average of $39.34.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.01. The firm had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative return on equity of 1,283.93% and a negative net margin of 30.90%. The company’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.45) earnings per share. Research analysts anticipate that Roblox will post -1.58 earnings per share for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the sale, the chief financial officer now owns 374,633 shares in the company, valued at approximately $14,543,253.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the sale, the chief financial officer now owns 374,633 shares of the company’s stock, valued at $14,543,253.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anthony P. Lee sold 200,000 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the transaction, the director now directly owns 4,707,579 shares in the company, valued at approximately $236,932,451.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 979,341 shares of company stock worth $43,897,012 in the last 90 days. Company insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

Several large investors have recently bought and sold shares of RBLX. V Square Quantitative Management LLC bought a new position in shares of Roblox in the 3rd quarter worth approximately $27,000. PARK CIRCLE Co purchased a new stake in Roblox in the second quarter worth $30,000. Strategic Financial Concepts LLC bought a new position in Roblox in the second quarter worth $33,000. Gilliland Jeter Wealth Management LLC lifted its position in Roblox by 102.4% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after buying an additional 506 shares during the period. Finally, Washington Trust Advisors Inc. bought a new stake in shares of Roblox during the 1st quarter valued at $39,000. 91.08% of the stock is owned by institutional investors.

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.