In yesterday’s Wall Street session, Roblox Corporation (NYSE:RBLX) shares traded at $27.61, down -1.07% from the previous session.
As of this writing, 31 analysts cover Roblox Corporation (NYSE:RBLX). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $54.00 and a low of $18.00, we find $37.00. Given the previous closing price of $27.91, this indicates a potential upside of 32.57 percent. RBLX stock price is now -18.82% away from the 50-day moving average and -25.03% away from the 200-day moving average. The market capitalization of the company currently stands at $16.93B.
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There are 6 analysts who have given it a hold rating, whereas 16 have given it a buy rating. Brokers who have rated the stock have averaged $36.82 as their price target over the next twelve months.
With the price target enhanced from $26 to $30, Morgan Stanley Upgraded its rating from Underweight to Equal-Weight for Roblox Corporation (NYSE: RBLX).
In other news, Baszucki Gregory, Director sold 8,333 shares of the company’s stock on Aug 28. The stock was sold for $225,238 at an average price of $27.03. Upon completion of the transaction, the Director now directly owns 9,855,268 shares in the company, valued at $272.1 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 21, Chief Product Officer Bronstein Manuel sold 37,961 shares of the business’s stock. A total of $1,030,110 was realized by selling the stock at an average price of $27.14. This leaves the insider owning 777,284 shares of the company worth $21.46 million. Insiders disposed of 23,883,899 shares of company stock worth roughly $659.43 million over the past 1 year. A total of 0.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RBLX stock. A new stake in Roblox Corporation shares was purchased by NORGES BANK during the first quarter worth $78,750,000. ARTISAN PARTNERS LIMITED PARTNERSHIP invested $40,371,000 in shares of RBLX during the first quarter. In the first quarter, NATIONAL PENSION SERVICE acquired a new stake in Roblox Corporation valued at approximately $19,399,000. CASTLE HOOK PARTNERS LP acquired a new stake in RBLX for approximately $17,486,000. JAT CAPITAL MGMT LP purchased a new stake in RBLX valued at around $8,835,000 in the second quarter. In total, there are 872 active investors with 75.00% ownership of the company’s stock.
Monday morning saw Roblox Corporation (NYSE: RBLX) opened at $27.73. During the past 12 months, Roblox Corporation has had a low of $25.32 and a high of $47.67. As of last week, the company has a debt-to-equity ratio of 5.96, a current ratio of 1.10, and a quick ratio of 1.10. The fifty day moving average price for RBLX is $33.74 and a two-hundred day moving average price translates $36.82 for the stock.
The latest earnings results from Roblox Corporation (NYSE: RBLX) was released for Jun, 2023. The net profit margin was -46.80% and return on equity was -397.50% for RBLX. The company reported revenue of $680.77 million for the quarter, compared to $591.21 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.15 percent.
Roblox Corporation(RBLX) Company Profile
Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform. It serves customers in the United States, the United Kingdom, Canada, Europe, China, the Asia-Pacific, and internationally. Roblox Corporation was incorporated in 2004 and is headquartered in San Mateo, California.
