Roblox (NYSE:RBLX) Price Target Increased to $44.00 by Analysts at Benchmark

Roblox (NYSE:RBLX) had its target price hoisted by Benchmark from $40.00 to $44.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

RBLX has been the subject of a number of other reports. Wells Fargo & Company increased their target price on Roblox from $41.00 to $43.00 and gave the stock an overweight rating in a report on Monday, July 8th. Needham & Company LLC increased their target price on Roblox from $40.00 to $50.00 and gave the stock a buy rating in a report on Friday. JPMorgan Chase & Co. upgraded Roblox from a neutral rating to an overweight rating and increased their price target for the stock from $41.00 to $48.00 in a research report on Tuesday, April 23rd. Moffett Nathanson upgraded Roblox from a sell rating to a neutral rating and decreased their price target for the stock from $31.00 to $26.00 in a research report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Roblox from $55.00 to $40.00 and set a buy rating on the stock in a research report on Friday, May 10th. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Roblox presently has a consensus rating of Moderate Buy and a consensus price target of $44.50.

Roblox Stock Performance

Roblox stock traded up $0.83 during trading hours on Friday, hitting $37.36. The stock had a trading volume of 2,501,757 shares, compared to its average volume of 7,410,778. The company has a 50-day moving average of $37.56 and a two-hundred day moving average of $38.04. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 16.04. The company has a market cap of $22.09 billion, a PE ratio of -19.78 and a beta of 1.60. Roblox has a fifty-two week low of $24.88 and a fifty-two week high of $47.20.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.07. The firm had revenue of $893.50 million during the quarter, compared to analysts’ expectations of $897.88 million. Roblox had a negative return on equity of 1,285.39% and a negative net margin of 34.12%. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.46) EPS. On average, equities research analysts anticipate that Roblox will post -1.66 EPS for the current fiscal year.

Insider Transactions at Roblox

In related news, Director Gregory Baszucki sold 13,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $40.45, for a total transaction of $525,850.00. Following the sale, the director now owns 9,708,603 shares of the company’s stock, valued at approximately $392,712,991.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Gregory Baszucki sold 13,000 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $40.45, for a total transaction of $525,850.00. Following the sale, the director now owns 9,708,603 shares of the company’s stock, valued at approximately $392,712,991.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amy Marie Rawlings sold 3,910 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total value of $127,309.60. Following the sale, the chief accounting officer now directly owns 98,457 shares in the company, valued at approximately $3,205,759.92. The disclosure for this sale can be found here. Insiders have sold 476,889 shares of company stock worth $17,575,955 in the last three months. Insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

Several hedge funds and other institutional investors have recently modified their holdings of RBLX. Arizona State Retirement System increased its position in shares of Roblox by 9.6% in the second quarter. Arizona State Retirement System now owns 129,918 shares of the company’s stock valued at $4,834,000 after acquiring an additional 11,423 shares during the last quarter. Impact Partnership Wealth LLC increased its position in shares of Roblox by 392.8% in the second quarter. Impact Partnership Wealth LLC now owns 6,485 shares of the company’s stock valued at $241,000 after acquiring an additional 5,169 shares during the last quarter. PARK CIRCLE Co acquired a new stake in shares of Roblox in the second quarter valued at about $30,000. Rhumbline Advisers increased its position in shares of Roblox by 1.1% in the second quarter. Rhumbline Advisers now owns 666,372 shares of the company’s stock valued at $24,796,000 after acquiring an additional 7,102 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Roblox by 35.6% in the second quarter. CIBC Asset Management Inc now owns 19,286 shares of the company’s stock valued at $718,000 after acquiring an additional 5,059 shares during the last quarter. Institutional investors and hedge funds own 91.08% 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.