Needham & Company LLC Boosts Roblox (NYSE:RBLX) Price Target to $50.00

Roblox (NYSE:RBLX) had its target price increased by Needham & Company LLC from $40.00 to $50.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Moffett Nathanson raised Roblox from a sell rating to a neutral rating and decreased their target price for the stock from $31.00 to $26.00 in a research report on Friday, May 10th. Canaccord Genuity Group lowered their price objective on Roblox from $56.00 to $48.00 and set a buy rating on the stock in a research note on Friday, May 10th. Roth Capital lowered shares of Roblox from a strong-buy rating to a hold rating in a research report on Tuesday, May 14th. Benchmark lowered their price target on shares of Roblox from $50.00 to $40.00 and set a buy rating on the stock in a research report on Friday, May 10th. Finally, Barclays dropped their price target on shares of Roblox from $46.00 to $35.00 and set an equal weight rating on the stock in a research note on Friday, May 10th. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $44.50.

Roblox Stock Performance

Shares of NYSE RBLX traded up $0.83 during mid-day trading on Friday, reaching $37.36. 4,030,071 shares of the company’s stock were exchanged, compared to its average volume of 7,420,967. The firm has a market capitalization of $22.09 billion, a price-to-earnings ratio of -19.78 and a beta of 1.60. The firm has a 50-day moving average price of $37.56 and a two-hundred day moving average price of $38.04. 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 has a 52 week low of $24.88 and a 52 week high of $47.20.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, topping the consensus estimate 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 business had revenue of $893.50 million for the quarter, compared to analyst estimates of $897.88 million. During the same quarter in the previous year, the firm posted ($0.46) earnings per share. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. Analysts predict that Roblox will post -1.66 EPS for the current year.

Insider Buying and Selling at Roblox

In other news, CFO Michael Guthrie sold 22,076 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total transaction of $718,794.56. Following the completion of the transaction, the chief financial officer now owns 374,633 shares of the company’s stock, valued at $12,198,050.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Michael Guthrie sold 22,076 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total transaction of $718,794.56. Following the sale, the chief financial officer now owns 374,633 shares in the company, valued at approximately $12,198,050.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amy Marie Rawlings sold 3,910 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total transaction of $127,309.60. Following the completion of the transaction, the chief accounting officer now owns 98,457 shares of the company’s stock, valued at $3,205,759.92. The disclosure for this sale can be found here. Insiders have sold a total of 476,889 shares of company stock valued at $17,575,955 in the last 90 days. Corporate insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in Roblox in the 4th quarter worth approximately $25,000. PARK CIRCLE Co purchased a new position in shares of Roblox during the second quarter worth approximately $30,000. Gilliland Jeter Wealth Management LLC lifted its holdings in shares of Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after acquiring an additional 506 shares during the last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of Roblox in the 1st quarter valued at $39,000. Finally, Blue Trust Inc. grew its holdings in shares of Roblox by 566.5% during the 4th quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock valued at $49,000 after purchasing an additional 912 shares during the last quarter. 91.08% of the stock is currently owned by 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.