Needham & Company LLC Forecasts Strong Price Appreciation for Roblox (NYSE:RBLX) Stock

Roblox (NYSE:RBLX) had its target price increased by Needham & Company LLC from $60.00 to $72.00 in a research report report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently commented on the company. Macquarie raised their price objective on Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Morgan Stanley lifted their price target on shares of Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Wedbush restated an “outperform” rating and issued a $49.00 price objective on shares of Roblox in a research note on Friday, October 25th. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 target price (up previously from $56.00) on shares of Roblox in a research note on Friday, November 1st. Finally, Barclays raised their price target on shares of Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Roblox currently has an average rating of “Moderate Buy” and an average price target of $64.19.

Roblox Price Performance

Shares of RBLX stock opened at $66.41 on Friday. The stock has a 50 day moving average of $62.47 and a 200-day moving average of $50.62. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox has a 12 month low of $29.55 and a 12 month high of $75.74.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 25.97% and a negative return on equity of 795.19%. Research analysts predict that Roblox will post -1.4 EPS for the current year.

Insider Buying and Selling at Roblox

In other news, CAO Amy Marie Rawlings sold 6,054 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $51.43, for a total transaction of $311,357.22. Following the completion of the transaction, the chief accounting officer now directly owns 85,008 shares in the company, valued at approximately $4,371,961.44. The trade was a 6.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Baszucki sold 138,555 shares of Roblox stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $71.62, for a total transaction of $9,923,309.10. Following the transaction, the chief executive officer now directly owns 129,301 shares in the company, valued at $9,260,537.62. The trade was a 51.73 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,306,335 shares of company stock valued at $77,348,316. 22.15% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBLX. Sequoia Financial Advisors LLC bought a new position in shares of Roblox during the 4th quarter valued at about $250,000. Prosperity Wealth Management Inc. acquired a new position in shares of Roblox in the fourth quarter valued at approximately $371,000. Wealthfront Advisers LLC increased its position in shares of Roblox by 74,400.8% during the fourth quarter. Wealthfront Advisers LLC now owns 17,335,594 shares of the company’s stock worth $1,063,365,000 after acquiring an additional 17,312,325 shares in the last quarter. Independent Advisor Alliance raised its holdings in shares of Roblox by 23.6% during the fourth quarter. Independent Advisor Alliance now owns 11,178 shares of the company’s stock worth $647,000 after acquiring an additional 2,132 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in Roblox by 10.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 61,192 shares of the company’s stock worth $3,541,000 after purchasing an additional 5,953 shares during the period. 94.46% of the stock is currently 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.