Roblox (NYSE:RBLX) Given New $50.00 Price Target at Macquarie

Roblox (NYSE:RBLX) had its target price hoisted by Macquarie from $46.00 to $50.00 in a research report report published on Monday morning, Benzinga reports. Macquarie currently has an outperform rating on the stock.

RBLX has been the subject of a number of other research reports. The Goldman Sachs Group lifted their target price on shares of Roblox from $38.00 to $45.00 and gave the stock a neutral rating in a research report on Friday. Roth Mkm lifted their target price on shares of Roblox from $35.00 to $42.00 and gave the stock a neutral rating in a research report on Monday, July 29th. BTIG Research cut their target price on shares of Roblox from $54.00 to $46.00 and set a buy rating for the company in a research report on Friday, May 10th. Stifel Nicolaus reaffirmed a buy rating and issued a $53.00 target price on shares of Roblox in a research report on Monday, April 22nd. Finally, Moffett Nathanson raised shares of Roblox from a sell rating to a neutral rating and cut their price objective for the company from $31.00 to $26.00 in a research report on Friday, May 10th. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Roblox currently has a consensus rating of Moderate Buy and an average target price of $44.50.

Roblox Stock Performance

Shares of RBLX stock traded up $1.14 during trading hours on Monday, hitting $37.67. 9,989,246 shares of the company’s stock traded hands, compared to its average volume of 5,541,735. The stock’s fifty day simple moving average is $37.56 and its two-hundred day simple moving average is $38.04. Roblox has a 12-month low of $24.88 and a 12-month high of $47.20. The company has a debt-to-equity ratio of 16.04, a current ratio of 1.07 and a quick ratio of 1.07.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,285.39%. The company had revenue of $893.50 million during the quarter, compared to analyst estimates of $897.88 million. During the same period in the previous year, the business earned ($0.46) EPS. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. As a group, sell-side analysts predict that Roblox will post -1.64 EPS for the current year.

Insider Activity at Roblox

In related news, Director Andrea L. Wong sold 5,276 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $31.13, for a total transaction of $164,241.88. Following the transaction, the director now directly owns 26,319 shares in the company, valued at approximately $819,310.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roblox news, insider Arvind Chakravarthy sold 18,165 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total value of $591,452.40. Following the transaction, the insider now directly owns 322,966 shares in the company, valued at approximately $10,515,772.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrea L. Wong sold 5,276 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $31.13, for a total transaction of $164,241.88. Following the completion of the transaction, the director now owns 26,319 shares in the company, valued at $819,310.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 476,889 shares of company stock worth $17,575,955. Insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Emerald Advisers LLC purchased a new stake in Roblox during the second quarter valued at approximately $388,000. Acadian Asset Management LLC lifted its position in Roblox by 219.7% during the second quarter. Acadian Asset Management LLC now owns 90,396 shares of the company’s stock valued at $3,360,000 after acquiring an additional 62,125 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Roblox during the second quarter valued at approximately $33,000. Arizona State Retirement System lifted its position in Roblox by 9.6% during the second quarter. Arizona State Retirement System now owns 129,918 shares of the company’s stock valued at $4,834,000 after acquiring an additional 11,423 shares during the last quarter. Finally, Impact Partnership Wealth LLC lifted its position in Roblox by 392.8% during the second quarter. Impact Partnership Wealth LLC now owns 6,485 shares of the company’s stock valued at $241,000 after acquiring an additional 5,169 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors.

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.