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

Roblox (NYSE:RBLX) had its price objective boosted by Needham & Company LLC from $50.00 to $60.00 in a report released on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also issued reports on RBLX. Barclays increased their target price on Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. The Goldman Sachs Group increased their target price on Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. BMO Capital Markets restated an “outperform” rating and issued a $56.00 price objective on shares of Roblox in a report on Tuesday, July 30th. Raymond James raised their price objective on Roblox from $51.00 to $60.00 and gave the company a “strong-buy” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their price objective on Roblox from $50.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $54.80.

Roblox Stock Performance

Roblox stock opened at $50.00 on Friday. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. Roblox has a 12 month low of $29.55 and a 12 month high of $53.07. The stock’s 50 day simple moving average is $43.79 and its two-hundred day simple moving average is $39.48.

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 analysts’ consensus estimates of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The firm had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm posted ($0.45) EPS. The business’s revenue was up 9.5% on a year-over-year basis. On average, equities analysts expect that Roblox will post -1.59 earnings per share for the current year.

Insiders Place Their Bets

In other Roblox news, CAO Amy Marie Rawlings sold 4,933 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the sale, the chief accounting officer now directly owns 99,617 shares of the company’s stock, valued at approximately $4,019,545.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Anthony P. Lee sold 200,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $50.33, for a total value of $10,066,000.00. Following the transaction, the director now directly owns 4,707,579 shares in the company, valued at $236,932,451.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amy Marie Rawlings sold 4,933 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the transaction, the chief accounting officer now owns 99,617 shares in the company, valued at approximately $4,019,545.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 989,341 shares of company stock valued at $44,391,412. Insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of large investors have recently modified their holdings of RBLX. V Square Quantitative Management LLC purchased a new position in shares of Roblox in the 3rd quarter worth about $27,000. PARK CIRCLE Co purchased a new position in shares of Roblox in the 2nd quarter worth about $30,000. Strategic Financial Concepts LLC purchased a new position in shares of Roblox in the 2nd quarter worth about $33,000. Gilliland Jeter Wealth Management LLC raised its holdings in shares of Roblox by 102.4% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after buying an additional 506 shares during the period. Finally, Washington Trust Advisors Inc. purchased a new stake in shares of Roblox during the 1st quarter valued at about $39,000. 91.08% of the stock is currently owned by hedge funds and other 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.