Roblox (NYSE:RBLX) Price Target Raised to $72.00

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

Several other research analysts also recently commented on the company. BTIG Research raised their price objective on Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Canaccord Genuity Group raised their target price on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and issued a $72.00 price target (up from $65.00) on shares of Roblox in a research report on Tuesday, January 28th. HSBC started coverage on shares of Roblox in a research report on Thursday, December 12th. They set a “buy” rating and a $63.00 price objective on the stock. Finally, Benchmark upped their target price on shares of Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Roblox has a consensus rating of “Moderate Buy” and an average target price of $64.19.

Roblox Stock Performance

Shares of NYSE RBLX opened at $66.41 on Friday. Roblox has a 12-month low of $29.55 and a 12-month high of $75.74. The firm has a market capitalization of $40.34 billion, a price-to-earnings ratio of -45.80 and a beta of 1.46. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The firm has a 50 day moving average of $62.47 and a 200 day moving average of $50.76.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 795.19% and a negative net margin of 25.97%. On average, research analysts anticipate that Roblox will post -1.4 earnings per share for the current year.

Insider Activity

In related news, Director Anthony P. Lee sold 25,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $52.34, for a total value of $1,308,500.00. Following the completion of the sale, the director now directly owns 5,731,695 shares in the company, valued at $299,996,916.30. This trade represents a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amy Marie Rawlings sold 6,054 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $51.43, for a total transaction of $311,357.22. Following the transaction, the chief accounting officer now owns 85,008 shares in the company, valued at $4,371,961.44. This trade represents a 6.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,306,335 shares of company stock worth $77,348,316. 22.15% of the stock is currently owned by corporate insiders.

Institutional Trading of Roblox

Institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in shares of Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after buying an additional 239 shares during the period. V Square Quantitative Management LLC bought a new position in Roblox in the 3rd quarter valued at $27,000. Frazier Financial Advisors LLC grew its position in Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after acquiring an additional 624 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Roblox by 44.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after purchasing an additional 230 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Roblox by 132.8% during the third quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after purchasing an additional 530 shares during the last quarter. Institutional investors own 94.46% of the company’s stock.

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.