In the latest trading session, 3.38 million Roblox Corporation (NYSE:RBLX) shares changed hands as the company’s beta touched 1.62. With the company’s most recent per share price at $36.69 changed hands at -$1.17 or -3.10% at last look, the market valuation stands at $22.88B. RBLX’s current price is a discount, trading about -29.87% off its 52-week high of $47.65. The share price had its 52-week low at $24.88, which suggests the last value was 32.19% up since then. When we look at Roblox Corporation’s average trading volume, we note the 10-day average is 18.48 million shares, with the 3-month average coming to 10.82 million.
Analysts gave the Roblox Corporation (RBLX) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.90. If we narrow down to specifics, the data shows that 4 out of 30 analysts rate the stock as a Sell, with a further 3 assigning it an Overweight rating. Of the remaining, 4 recommended RBLX as a Hold, 19 felt it is a Buy and 0 rated the stock as Underweight. Roblox Corporation’s EPS for the current quarter is expected to be -$0.55.
Roblox Corporation (NYSE:RBLX) trade information
Instantly RBLX was in red as seen in intraday trades today. With action -6.51%, the performance over the past five days has been red. The drop to weekly highs of 41.89 on Monday, 11/20/23 subtracted -3.10% to the stock’s daily price. The company’s shares are showing year-to-date upside of 28.91%, with the 5-day performance at -6.51% in the red. However, in the 30-day time frame, Roblox Corporation (NYSE:RBLX) is 20.01% up. Looking at the short shares, we see there were 19.86 million shares sold at short interest cover period of 2.28 days.
The consensus price target for the stock as assigned by Wall Street analysts is $42.67, meaning bulls need an upside of 14.01% from its recent market value. According to analyst projections, RBLX’s forecast low is $21.00 with $60.00 as the target high. To hit the forecast high, the stock’s price needs a -63.53% plunge from its current level, while the stock would need to tank 42.76% for it to hit the projected low.
Roblox Corporation (RBLX) estimates and forecasts
Data shows that the Roblox Corporation share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -7.50% over the past 6 months, a -23.23% in annual growth rate that is considerably lower than the industry average of 16.80%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Roblox Corporation will fall -14.60%, while the growth in revenue is estimated to hit -4.50% for the next quarter. Year-over-year growth is forecast to reach 19.60% up from the last financial year.
Consensus estimates given by 18 financial analysts project the company’s revenue in the current quarter to hit an average of $1.08 billion. 9 analysts are of the opinion that Roblox Corporation’s revenue for the quarter ending Mar 2024 will be $906.41 million. The company’s revenue for the corresponding quarters a year ago was $899.43 million and $773.82 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 19.50%. The estimates for the next quarter sales put growth at 17.10%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -76.18%. The 2023 estimates are for Roblox Corporation earnings to decrease by -14.92%, but the outlook for the next 5-year period is at -8.10% per year.
Roblox Corporation is expected to release its next quarterly earnings report between February 19 and February 23.
Roblox Corporation (NYSE:RBLX)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 4.29% of Roblox Corporation shares while 73.85% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 77.16%. There are 73.85% institutions holding the Roblox Corporation stock share, with Altos Ventures Management Inc. the top institutional holder. As of Jun 29, 2023, the company held 12.51% of the shares, roughly 70.89 million RBLX shares worth $2.86 billion.
Morgan Stanley holds the second largest percentage of outstanding shares, with 6.37% or 36.09 million shares worth $1.45 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and ARK ETF Tr-ARK Innovation ETF. With 11.39 million shares estimated at $459.08 million under it, the former controlled 2.01% of total outstanding shares. On the other hand, ARK ETF Tr-ARK Innovation ETF held about 1.50% of the shares, roughly 8.49 million shares worth around $245.84 million.