Roblox (NYSE:RBLX) Given New $65.00 Price Target at Piper Sandler

Roblox (NYSE:RBLX) had its price objective increased by research analysts at Piper Sandler from $54.00 to $65.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 25.73% from the stock’s previous close.

RBLX has been the subject of a number of other reports. Wedbush restated an “outperform” rating and issued a $49.00 price objective on shares of Roblox in a research note on Friday, October 25th. Citigroup raised their price target on Roblox from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Barclays lifted their price objective on Roblox from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their target price on Roblox from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Roth Mkm lifted their price target on Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.70.

Roblox Stock Performance

Shares of RBLX stock opened at $51.70 on Friday. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $52.65. The stock’s 50-day moving average is $43.53 and its two-hundred day moving average is $39.23. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $30.94 billion, a P/E ratio of -30.06 and a beta of 1.60.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.01. The company had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.45) earnings per share. Analysts predict that Roblox will post -1.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Mark Reinstra sold 12,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $40.00, for a total transaction of $480,000.00. Following the completion of the sale, the insider now owns 342,656 shares in the company, valued at $13,706,240. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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. Also, insider Mark Reinstra sold 12,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $40.00, for a total transaction of $480,000.00. Following the sale, the insider now owns 342,656 shares of the company’s stock, valued at $13,706,240. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 779,341 shares of company stock worth $33,831,012 in the last quarter. Insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

A number of institutional investors and hedge funds have recently modified their holdings of RBLX. DekaBank Deutsche Girozentrale increased its position in shares of Roblox by 2.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock valued at $2,318,000 after buying an additional 1,419 shares in the last quarter. Dragoneer Investment Group LLC grew its stake in Roblox by 26.9% in the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after acquiring an additional 2,488,044 shares during the period. Itau Unibanco Holding S.A. increased its holdings in shares of Roblox by 62.0% in the second quarter. Itau Unibanco Holding S.A. now owns 37,482 shares of the company’s stock worth $1,395,000 after acquiring an additional 14,348 shares in the last quarter. Sei Investments Co. raised its position in shares of Roblox by 18.3% during the first quarter. Sei Investments Co. now owns 288,112 shares of the company’s stock worth $11,000,000 after purchasing an additional 44,557 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of Roblox by 319.6% during the 1st quarter. Acadian Asset Management LLC now owns 28,271 shares of the company’s stock valued at $1,075,000 after purchasing an additional 21,533 shares in the last quarter. 91.08% of the stock is owned by 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.