Roblox (NYSE:RBLX) Price Target Raised to $58.00

Roblox (NYSE:RBLX) had its price objective boosted by Macquarie from $50.00 to $58.00 in a research note issued to investors on Friday morning, Benzinga reports. Macquarie currently has an outperform rating on the stock.

RBLX has been the subject of a number of other reports. The Goldman Sachs Group upped their price target on Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Needham & Company LLC upped their target price on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group assumed coverage on Roblox in a report on Thursday, July 11th. They set a “hold” rating and a $42.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Roblox from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Citigroup raised their price objective on shares of Roblox from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.55.

Roblox Stock Down 0.5 %

Shares of RBLX opened at $51.44 on Friday. The stock has a 50 day moving average price of $43.67 and a 200 day moving average price of $39.38. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $30.79 billion, a price-to-earnings ratio of -31.37 and a beta of 1.56. Roblox has a one year low of $29.55 and a one year high of $52.65.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.01. The business had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 1,283.93%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.45) earnings per share. Equities research analysts forecast that Roblox will post -1.58 earnings per share for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 4,933 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the transaction, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at $4,019,545.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Roblox news, CAO Amy Marie Rawlings sold 4,933 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the sale, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at $4,019,545.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anthony P. Lee sold 200,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $50.33, for a total value of $10,066,000.00. Following the transaction, the director now directly owns 4,707,579 shares of the company’s stock, valued at approximately $236,932,451.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 979,341 shares of company stock worth $43,897,012. Corporate insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of large investors have recently modified their holdings of RBLX. Impact Partnership Wealth LLC grew its stake in shares of Roblox by 3.8% during the third quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after purchasing an additional 245 shares in the last quarter. Swedbank AB raised its stake in Roblox by 0.5% in the second quarter. Swedbank AB now owns 53,297 shares of the company’s stock valued at $1,983,000 after buying an additional 285 shares in the last quarter. Thrive Wealth Management LLC lifted its holdings in Roblox by 4.3% during the 2nd quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock worth $274,000 after buying an additional 300 shares during the last quarter. Mystic Asset Management Inc. boosted its position in shares of Roblox by 4.0% during the 1st quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock worth $326,000 after acquiring an additional 325 shares in the last quarter. Finally, Atomi Financial Group Inc. increased its holdings in shares of Roblox by 0.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 136,658 shares of the company’s stock valued at $6,048,000 after acquiring an additional 380 shares during the last quarter. 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.