Roblox (NYSE:RBLX) Price Target Raised to $65.00

Roblox (NYSE:RBLX) had its target price upped by Piper Sandler from $54.00 to $65.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on RBLX. Wolfe Research started coverage on Roblox in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Roth Mkm lifted their target price on shares of Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Macquarie upped their price target on Roblox from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on Roblox from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Jefferies Financial Group assumed coverage on shares of Roblox in a research note on Thursday, July 11th. They issued a “hold” rating and a $42.00 price target on the stock. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Roblox has an average rating of “Moderate Buy” and a consensus price target of $52.55.

Roblox Price Performance

RBLX stock opened at $51.44 on Friday. The stock has a market capitalization of $30.79 billion, a price-to-earnings ratio of -31.37 and a beta of 1.56. The firm’s 50-day moving average price is $43.67 and its two-hundred day moving average price is $39.38. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. Roblox has a 12-month low of $29.55 and a 12-month high of $52.65.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $919.00 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the business earned ($0.45) EPS. Roblox’s revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts predict that Roblox will post -1.58 earnings per share for the current year.

Insider Activity at Roblox

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the 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 transaction, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $14,543,253.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Mark Reinstra sold 12,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $40.00, for a total value of $480,000.00. Following the completion of the sale, the insider now directly owns 342,656 shares of the company’s stock, valued at approximately $13,706,240. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the sale, the chief financial officer now owns 374,633 shares in the company, valued at approximately $14,543,253.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 979,341 shares of company stock worth $43,897,012. 22.15% of the stock is owned by company insiders.

Institutional Trading of Roblox

Hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new position in Roblox in the 3rd quarter worth $27,000. PARK CIRCLE Co bought a new position in shares of Roblox in the second quarter worth about $30,000. Strategic Financial Concepts LLC purchased a new stake in shares of Roblox during the second quarter worth about $33,000. Gilliland Jeter Wealth Management LLC raised its stake in Roblox by 102.4% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after purchasing an additional 506 shares during the period. Finally, Washington Trust Advisors Inc. purchased a new position in Roblox in the 1st quarter worth approximately $39,000. 91.08% of the stock is owned by hedge funds and other institutional investors.

Roblox Company Profile

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.