Roblox (NYSE:RBLX) Given New $52.00 Price Target at Piper Sandler

Roblox (NYSE:RBLX) had its target price upped by Piper Sandler from $50.00 to $52.00 in a research report released on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on RBLX. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Roblox from $55.00 to $45.00 in a research report on Thursday, August 10th. DA Davidson cut their price objective on shares of Roblox from $55.00 to $45.00 and set a buy rating on the stock in a research report on Thursday, August 10th. Benchmark lifted their price objective on shares of Roblox from $35.00 to $46.00 and gave the company a buy rating in a research report on Thursday, November 9th. Wedbush raised their target price on shares of Roblox from $37.00 to $49.00 and gave the company an outperform rating in a research note on Thursday, November 9th. Finally, Morgan Stanley raised shares of Roblox from an underweight rating to an equal weight rating and raised their target price for the company from $26.00 to $30.00 in a research note on Thursday, August 10th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $41.25.

Roblox Trading Down 3.5 %

Roblox stock opened at $38.36 on Thursday. The firm’s 50-day moving average is $31.14 and its 200-day moving average is $35.08. The company has a debt-to-equity ratio of 8.38, a quick ratio of 1.06 and a current ratio of 1.06. Roblox has a 1 year low of $24.88 and a 1 year high of $47.65. The company has a market cap of $22.01 billion, a P/E ratio of -20.96 and a beta of 1.56.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Wednesday, November 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.07. Roblox had a negative net margin of 42.54% and a negative return on equity of 536.12%. The company had revenue of $839.45 million for the quarter, compared to the consensus estimate of $824.71 million. During the same period last year, the firm posted ($0.50) EPS. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. On average, equities analysts expect that Roblox will post -1.9 earnings per share for the current year.

Insider Activity

In related news, Director Gregory Baszucki sold 8,333 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $31.05, for a total transaction of $258,739.65. Following the transaction, the director now owns 9,838,602 shares of the company’s stock, valued at $305,488,592.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Roblox news, insider Mark Reinstra sold 4,000 shares of the business’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $30.62, for a total value of $122,480.00. Following the sale, the insider now owns 320,763 shares of the company’s stock, valued at approximately $9,821,763.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory Baszucki sold 8,333 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $31.05, for a total transaction of $258,739.65. Following the completion of the sale, the director now directly owns 9,838,602 shares in the company, valued at approximately $305,488,592.10. The disclosure for this sale can be found here. Insiders have sold a total of 67,200 shares of company stock valued at $1,861,227 over the last 90 days. 27.67% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roblox

Several institutional investors and hedge funds have recently made changes to their positions in RBLX. State Street Corp boosted its stake in shares of Roblox by 2,473.0% in the 2nd quarter. State Street Corp now owns 6,586,856 shares of the company’s stock valued at $216,444,000 after purchasing an additional 6,330,861 shares in the last quarter. Ieq Capital LLC lifted its position in Roblox by 158.0% during the 3rd quarter. Ieq Capital LLC now owns 9,151,748 shares of the company’s stock worth $265,035,000 after buying an additional 5,604,995 shares in the last quarter. Morgan Stanley grew its holdings in Roblox by 13.7% during the 3rd quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock worth $1,187,769,000 after acquiring an additional 4,927,848 shares during the last quarter. Vanguard Group Inc. increased its position in Roblox by 39.4% in the 1st quarter. Vanguard Group Inc. now owns 16,084,809 shares of the company’s stock valued at $743,762,000 after acquiring an additional 4,546,253 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Roblox by 234.4% in the first quarter. Two Sigma Advisers LP now owns 6,368,500 shares of the company’s stock worth $286,455,000 after acquiring an additional 4,464,000 shares during the last quarter. Institutional investors and hedge funds own 69.92% of the company’s stock.

About Roblox

Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.