Roblox (NYSE:RBLX) Given New $60.00 Price Target at Raymond James

Roblox (NYSE:RBLX) had its price target hoisted by Raymond James from $51.00 to $60.00 in a research report released on Thursday, Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

Several other equities research analysts also recently commented on the stock. Wolfe Research began coverage on shares of Roblox in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Wells Fargo & Company boosted their price target on shares of Roblox from $46.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Roblox from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Wedbush restated an “outperform” rating and set a $49.00 price target on shares of Roblox in a research report on Friday, October 25th. Finally, Macquarie lifted their price objective on Roblox from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.55.

Roblox Stock Performance

NYSE RBLX opened at $51.44 on Thursday. The stock has a market cap of $30.79 billion, a P/E ratio of -31.37 and a beta of 1.56. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. Roblox has a twelve month low of $29.55 and a twelve month high of $52.65. The company’s 50-day simple moving average is $43.67 and its 200 day simple moving average is $39.35.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.01. The business had revenue of $919.00 million during 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%. Roblox’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.45) EPS. As a group, research analysts forecast that Roblox will post -1.58 earnings per share for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 4,933 shares of Roblox stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total transaction of $199,046.55. Following the completion of the sale, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at approximately $4,019,545.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO David Baszucki sold 6,499 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $262,234.65. Following the sale, the chief executive officer now directly owns 135,761 shares in the company, valued at $5,477,956.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amy Marie Rawlings sold 4,933 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total transaction of $199,046.55. Following the transaction, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at approximately $4,019,545.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 979,341 shares of company stock worth $43,897,012 over the last ninety days. Company insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in Roblox by 98.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock worth $42,000 after acquiring an additional 548 shares in the last quarter. Norden Group LLC bought a new position in shares of Roblox during the 1st quarter valued at about $230,000. Maryland State Retirement & Pension System grew its position in shares of Roblox by 4.2% in the 1st quarter. Maryland State Retirement & Pension System now owns 36,877 shares of the company’s stock valued at $1,343,000 after purchasing an additional 1,492 shares during the period. Private Advisor Group LLC increased its stake in Roblox by 4.4% during the 1st quarter. Private Advisor Group LLC now owns 60,111 shares of the company’s stock worth $2,295,000 after purchasing an additional 2,506 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Roblox by 4.8% during the 1st quarter. Nordea Investment Management AB now owns 28,492 shares of the company’s stock worth $1,104,000 after buying an additional 1,298 shares during the period. 91.08% of the stock is owned by institutional investors.

About Roblox

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.