Wedbush Weighs in on Roblox Co.’s Q1 2022 Earnings (NYSE:RBLX)

By | May 14, 2022

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Roblox Co. (NYSE:RBLX – Get Rating) – Equities research analysts at Wedbush issued their Q1 2022 EPS estimates for Roblox in a research note issued to investors on Monday, May 9th. Wedbush analyst N. Mckay forecasts that the company will post earnings of ($0.09) per share for the quarter. Wedbush has a “Neutral” rating and a $28.00 price target on the stock. Wedbush also issued estimates for Roblox’s Q2 2022 earnings at ($0.11) EPS, Q3 2022 earnings at ($0.12) EPS, Q4 2022 earnings at ($0.03) EPS, FY2022 earnings at ($0.35) EPS, Q1 2023 earnings at ($0.08) EPS, Q2 2023 earnings at ($0.10) EPS, Q3 2023 earnings at ($0.11) EPS, Q4 2023 earnings at ($0.02) EPS, FY2023 earnings at ($0.30) EPS, Q1 2024 earnings at ($0.07) EPS and FY2024 earnings at ($0.31) EPS. Roblox (NYSE:RBLX – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.05). Roblox had a negative net margin of 25.01% and a negative return on equity of 89.21%. The business had revenue of $631.21 million during the quarter, compared to the consensus estimate of $649.48 million. During the same period in the prior year, the firm earned ($0.46) earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year.

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A number of other analysts have also commented on the company. Daiwa Capital Markets initiated coverage on Roblox in a research report on Monday, March 28th. They issued an “outperform” rating and a $56.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Roblox from $60.00 to $45.00 in a research report on Thursday. BTIG Research lowered their price objective on Roblox from $99.00 to $84.00 in a research report on Friday, March 11th. Benchmark lowered their price objective on Roblox from $45.00 to $21.00 in a research report on Thursday. Finally, Truist Financial decreased their target price on Roblox from $70.00 to $36.00 in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Roblox currently has a consensus rating of “Hold” and an average target price of $60.00.

Roblox stock opened at $32.97 on Thursday. The stock has a 50-day simple moving average of $40.08 and a 200 day simple moving average of $70.27. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 1.67. Roblox has a 12-month low of $21.65 and a 12-month high of $141.60. The stock has a market capitalization of $17.82 billion, a price-to-earnings ratio of -36.63 and a beta of 2.29.

Several institutional investors have recently made changes to their positions in the company. ProVise Management Group LLC raised its stake in Roblox by 1.7% in the 4th quarter. ProVise Management Group LLC now owns 8,577 shares of the company’s stock valued at $885,000 after acquiring an additional 144 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Roblox by 4.6% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,424 shares of the company’s stock valued at $353,000 after acquiring an additional 150 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Roblox by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,304 shares of the company’s stock valued at $1,580,000 after acquiring an additional 164 shares during the period. Sepio Capital LP raised its stake in Roblox by 1.8% in the 4th quarter. Sepio Capital LP now owns 9,500 shares of the company’s stock valued at $980,000 after acquiring an additional 167 shares during the period. Finally, Baystate Wealth Management LLC raised its stake in Roblox by 175.0% in the 4th quarter. Baystate Wealth Management LLC now owns 275 shares of the company’s stock valued at $28,000 after acquiring an additional 175 shares during the period. Institutional investors own 68.00% of the company’s stock.

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In other news, insider Craig Donato sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Guthrie sold 2,998 shares of the company’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $46.87, for a total value of $140,516.26. The disclosure for this sale can be found here. Insiders sold a total of 15,930 shares of company stock worth $797,939 in the last 90 days. Company insiders own 28.22% of the company’s stock.

About Roblox (Get Rating)

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.

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Earnings History and Estimates for Roblox (NYSE:RBLX)

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