Roblox (NYSE:RBLX) Price Target Raised to $75.00

Roblox (NYSE:RBLX) had its price target increased by stock analysts at Morgan Stanley from $65.00 to $75.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 23.56% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. The Goldman Sachs Group increased their target price on Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC raised their price objective on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Piper Sandler raised their price objective on Roblox from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Canaccord Genuity Group raised their target price on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Wedbush reiterated an “outperform” rating and issued a $49.00 target price on shares of Roblox in a research note on Friday, October 25th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $56.62.

Roblox Trading Down 1.8 %

Shares of RBLX traded down $1.12 during trading hours on Monday, reaching $60.70. The stock had a trading volume of 4,632,953 shares, compared to its average volume of 5,936,299. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox has a 52 week low of $29.55 and a 52 week high of $63.58. The firm has a 50-day moving average of $55.94 and a 200 day moving average of $46.77. The company has a market cap of $36.88 billion, a P/E ratio of -37.01 and a beta of 1.43.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The firm 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 986.36% and a negative net margin of 30.90%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.45) EPS. On average, sell-side analysts expect that Roblox will post -1.56 earnings per share for the current fiscal year.

Insider Activity at Roblox

In related news, insider Mark Reinstra sold 24,000 shares of Roblox stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $59.75, for a total value of $1,434,000.00. Following the transaction, the insider now directly owns 278,161 shares of the company’s stock, valued at $16,620,119.75. This trade represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amy Marie Rawlings sold 2,186 shares of Roblox stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $52.90, for a total transaction of $115,639.40. Following the completion of the transaction, the chief accounting officer now directly owns 91,062 shares in the company, valued at $4,817,179.80. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,254,601 shares of company stock valued at $65,622,735 over the last three months. 22.15% of the stock is owned by insiders.

Institutional Trading of Roblox

Hedge funds and other institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc grew its stake in shares of Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after buying an additional 239 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Roblox during the third quarter worth $27,000. Frazier Financial Advisors LLC grew its stake in shares of Roblox by 20,800.0% during the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after buying an additional 624 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Roblox by 132.8% during the third quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after buying an additional 530 shares during the last quarter. Finally, Huntington National Bank grew its stake in shares of Roblox by 277.0% during the third quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after buying an additional 770 shares during the last quarter. Institutional investors own 94.46% of the company’s stock.

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.