Roblox (NYSE:RBLX) Price Target Raised to $55.00

Roblox (NYSE:RBLX) had its price objective raised by The Goldman Sachs Group from $45.00 to $55.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently weighed in on RBLX. Wedbush reaffirmed an “outperform” rating and set a $49.00 price target on shares of Roblox in a research note on Friday, October 25th. Jefferies Financial Group started coverage on shares of Roblox in a report on Thursday, July 11th. They issued a “hold” rating and a $42.00 target price for the company. Barclays boosted their price target on Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday. Needham & Company LLC raised their price objective on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price objective (up from $56.00) on shares of Roblox in a report on Friday. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.55.

Roblox Price Performance

Shares of NYSE:RBLX opened at $51.44 on Friday. Roblox has a 52 week low of $29.55 and a 52 week high of $52.65. The company has a 50-day moving average price of $43.67 and a 200 day moving average price of $39.38. The company 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 (NYSE:RBLX) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.01. Roblox had a negative return on equity of 1,283.93% and a negative net margin of 30.90%. The business had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the firm earned ($0.45) EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. Research analysts predict that Roblox will post -1.58 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of Roblox

Several institutional investors have recently made changes to their positions in RBLX. V Square Quantitative Management LLC acquired a new position in Roblox in the third quarter valued at $27,000. PARK CIRCLE Co purchased a new stake in shares of Roblox during the 2nd quarter worth about $30,000. GAMMA Investing LLC increased its position in Roblox by 132.8% during the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after purchasing an additional 530 shares in the last quarter. Gilliland Jeter Wealth Management LLC raised its holdings in Roblox by 102.4% in 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. acquired a new position in Roblox during the first quarter valued at approximately $39,000. 91.08% of the stock is owned by hedge funds and other 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.