Roblox (NYSE:RBLX) Price Target Raised to $45.00

Roblox (NYSE:RBLX) had its price target upped by research analysts at The Goldman Sachs Group from $38.00 to $45.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 16.04% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Barclays boosted their price objective on shares of Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday. JPMorgan Chase & Co. upgraded Roblox from a “neutral” rating to an “overweight” rating and upped their target price for the company from $41.00 to $48.00 in a research note on Tuesday, April 23rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $56.00 price objective on shares of Roblox in a research note on Tuesday. Canaccord Genuity Group decreased their target price on shares of Roblox from $56.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Roblox from $55.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned 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 $44.09.

Roblox Price Performance

NYSE RBLX traded down $0.07 during trading hours on Friday, reaching $38.78. The company’s stock had a trading volume of 3,889,719 shares, compared to its average volume of 7,381,706. The company has a debt-to-equity ratio of 16.04, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $22.93 billion, a PE ratio of -20.91 and a beta of 1.60. The company’s 50-day moving average is $37.35 and its two-hundred day moving average is $38.08. Roblox has a fifty-two week low of $24.88 and a fifty-two week high of $47.20.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.05. The firm had revenue of $893.50 million during the quarter, compared to the consensus estimate of $897.88 million. Roblox had a negative return on equity of 1,110.40% and a negative net margin of 39.19%. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.46) EPS. Analysts forecast that Roblox will post -1.66 EPS for the current year.

Insider Transactions at Roblox

In other news, Director Gregory Baszucki sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $40.45, for a total transaction of $525,850.00. Following the completion of the transaction, the director now directly owns 9,708,603 shares in the company, valued at $392,712,991.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $40.45, for a total transaction of $525,850.00. Following the sale, the director now directly owns 9,708,603 shares in the company, valued at $392,712,991.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Guthrie sold 900 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $35.00, for a total transaction of $31,500.00. Following the completion of the sale, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at approximately $13,112,155. The disclosure for this sale can be found here. In the last 90 days, insiders sold 476,889 shares of company stock valued at $17,575,955. Insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in shares of Roblox by 1.1% in the 2nd quarter. Rhumbline Advisers now owns 666,372 shares of the company’s stock worth $24,796,000 after buying an additional 7,102 shares in the last quarter. CIBC Asset Management Inc raised its position in Roblox by 35.6% in the second quarter. CIBC Asset Management Inc now owns 19,286 shares of the company’s stock worth $718,000 after acquiring an additional 5,059 shares in the last quarter. Interchange Capital Partners LLC lifted its holdings in Roblox by 45.5% in the 2nd quarter. Interchange Capital Partners LLC now owns 12,843 shares of the company’s stock valued at $478,000 after acquiring an additional 4,014 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Roblox during the 2nd quarter valued at about $63,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of Roblox by 1.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 97,959 shares of the company’s stock worth $3,645,000 after purchasing an additional 1,701 shares during the last quarter. Institutional investors own 91.08% of the company’s stock.

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.