Roblox (NYSE:RBLX) Price Target Raised to $60.00

Roblox (NYSE:RBLX) had its target price increased by Raymond James from $51.00 to $60.00 in a report published on Thursday, Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

A number of other equities research analysts have also commented on RBLX. Macquarie raised their price objective on Roblox from $46.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Piper Sandler boosted their price objective on shares of Roblox from $48.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $56.00 target price on shares of Roblox in a research report on Tuesday, July 30th. The Goldman Sachs Group boosted their price target on shares of Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group started coverage on Roblox in a report on Thursday, July 11th. They set a “hold” rating and a $42.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.55.

Roblox Stock Performance

Shares of RBLX opened at $51.44 on Thursday. Roblox has a one year low of $29.55 and a one year high of $52.65. The company has a 50-day moving average of $43.67 and a two-hundred day moving average of $39.35. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $30.79 billion, a price-to-earnings ratio of -31.37 and a beta of 1.56.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.01. The company had revenue of $919.00 million for the quarter, compared to the consensus estimate of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 1,283.93%. The company’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.45) EPS. On average, equities research analysts expect that Roblox will post -1.58 earnings per share for the current year.

Insider Buying and Selling at Roblox

In related news, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the completion of the sale, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at approximately $14,543,253.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the completion of the transaction, the chief financial officer now owns 374,633 shares of the company’s stock, valued at approximately $14,543,253.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Reinstra sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $40.00, for a total value of $480,000.00. Following the completion of the sale, the insider now directly owns 342,656 shares in the company, valued at $13,706,240. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 979,341 shares of company stock worth $43,897,012 over the last 90 days. Insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

Hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new position in shares of Roblox during the 3rd quarter worth about $27,000. PARK CIRCLE Co acquired a new stake in Roblox during the second quarter worth about $30,000. GAMMA Investing LLC increased its stake in Roblox by 132.8% during the third quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after acquiring an additional 530 shares during the period. Gilliland Jeter Wealth Management LLC raised its holdings in Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after acquiring an additional 506 shares in the last quarter. Finally, Washington Trust Advisors Inc. bought a new stake in shares of Roblox in the 1st quarter worth approximately $39,000. 91.08% of the stock is owned by institutional investors.

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.