Roblox (NYSE:RBLX) Price Target Raised to $54.00 at Piper Sandler

Roblox (NYSE:RBLX) had its target price hoisted by Piper Sandler from $48.00 to $54.00 in a research report report published on Wednesday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

RBLX has been the subject of a number of other reports. Wolfe Research assumed coverage on Roblox in a research report on Tuesday, July 16th. They issued a peer perform rating for the company. Wedbush restated an outperform rating and issued a $46.00 price target on shares of Roblox in a research report on Monday, July 29th. Wells Fargo & Company raised their price target on Roblox from $41.00 to $43.00 and gave the stock an overweight rating in a research report on Monday, July 8th. Macquarie lifted their target price on Roblox from $46.00 to $50.00 and gave the stock an outperform rating in a research report on Monday, August 5th. Finally, Barclays lifted their target price on Roblox from $35.00 to $40.00 and gave the stock an equal weight rating in a research report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $46.14.

Roblox Trading Up 0.5 %

RBLX stock opened at $41.60 on Wednesday. The firm has a fifty day moving average price of $42.72 and a 200 day moving average price of $38.85. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $48.43. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $24.90 billion, a PE ratio of -24.19 and a beta of 1.60.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. The company had revenue of $893.50 million during the quarter, compared to the consensus estimate of $897.88 million. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. Roblox’s revenue was up 31.2% on a year-over-year basis. During the same period last year, the company earned ($0.46) earnings per share. Sell-side analysts anticipate that Roblox will post -1.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Roblox

In other Roblox news, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $47.75, for a total value of $620,750.00. Following the transaction, the director now owns 9,662,103 shares in the company, valued at $461,365,418.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the transaction, the chief financial officer now owns 374,633 shares in the company, valued at $14,543,253.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $47.75, for a total value of $620,750.00. Following the completion of the transaction, the director now owns 9,662,103 shares in the company, valued at $461,365,418.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 625,673 shares of company stock worth $27,331,806 over the last quarter. Insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swedbank AB grew its stake in shares of Roblox by 0.5% during the second quarter. Swedbank AB now owns 53,297 shares of the company’s stock worth $1,983,000 after acquiring an additional 285 shares during the last quarter. Thrive Wealth Management LLC grew its stake in shares of Roblox by 4.3% during the second quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock worth $274,000 after acquiring an additional 300 shares during the last quarter. Mystic Asset Management Inc. grew its stake 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. Atomi Financial Group Inc. grew 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 worth $6,048,000 after acquiring an additional 380 shares during the last quarter. Finally, Center for Financial Planning Inc. grew its stake in shares of Roblox by 2.3% during the second quarter. Center for Financial Planning Inc. now owns 17,722 shares of the company’s stock worth $659,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other 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.