Roblox (NYSE:RBLX) Price Target Raised to $60.00

Roblox (NYSE:RBLX) had its price objective hoisted by Needham & Company LLC from $50.00 to $60.00 in a research note released on Friday, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other research analysts have also issued reports on RBLX. The Goldman Sachs Group raised their target price on shares of Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Roblox from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. BMO Capital Markets restated an “outperform” rating and set a $56.00 target price on shares of Roblox in a research note on Tuesday, July 30th. Citigroup lifted their price target on Roblox from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Roth Mkm increased their price objective on Roblox from $35.00 to $42.00 and gave the company 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.55.

Roblox Trading Down 0.5 %

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

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

Insider Buying and Selling at Roblox

In other news, CAO Amy Marie Rawlings sold 4,933 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 99,617 shares in the company, valued at approximately $4,019,545.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Amy Marie Rawlings sold 4,933 shares of Roblox stock in a transaction dated 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 transaction, the chief accounting officer now directly 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 document filed with the SEC, which is available at this hyperlink. Also, insider Mark Reinstra sold 12,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $40.00, for a total transaction of $480,000.00. Following the completion of the transaction, the insider now owns 342,656 shares in the company, valued at approximately $13,706,240. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 979,341 shares of company stock worth $43,897,012 over the last three months. Company insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several institutional investors have recently bought and sold shares of the business. Impact Partnership Wealth LLC lifted its position 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 boosted its position in Roblox by 0.5% in the 2nd quarter. Swedbank AB now owns 53,297 shares of the company’s stock valued at $1,983,000 after buying an additional 285 shares during the last quarter. Thrive Wealth Management LLC increased its stake in shares of Roblox by 4.3% in the 2nd quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock valued at $274,000 after buying an additional 300 shares during the period. Mystic Asset Management Inc. raised its position in shares of Roblox by 4.0% during the first quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock worth $326,000 after acquiring an additional 325 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its stake in shares of Roblox by 0.3% during the third 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 period. Institutional investors own 91.08% of the company’s stock.

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.