Roblox (NYSE:RBLX) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Roblox (NYSE:RBLX) had its price objective increased by stock analysts at Needham & Company LLC from $60.00 to $72.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 7.30% from the stock’s previous close.

A number of other research firms have also recently issued reports on RBLX. Citigroup boosted their price objective on shares of Roblox from $63.00 to $82.00 and gave the company a “buy” rating in a research report on Monday. Canaccord Genuity Group increased their price objective on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their target price on Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 4th. HSBC initiated coverage on shares of Roblox in a report on Thursday, December 12th. They issued a “buy” rating and a $63.00 price target on the stock. Finally, Macquarie boosted their price target on shares of Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $61.38.

Roblox Trading Down 11.1 %

Shares of RBLX stock opened at $67.10 on Friday. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. The business has a 50-day moving average of $62.14 and a 200 day moving average of $50.44. The stock has a market capitalization of $40.77 billion, a PE ratio of -40.92 and a beta of 1.46. Roblox has a 1-year low of $29.55 and a 1-year high of $75.74.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, February 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. As a group, sell-side analysts anticipate that Roblox will post -1.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Anthony P. Lee sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $52.34, for a total value of $1,308,500.00. Following the transaction, the director now owns 5,731,695 shares of the company’s stock, valued at approximately $299,996,916.30. This trade represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael Guthrie sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $52.07, for a total transaction of $2,082,800.00. Following the sale, the chief financial officer now directly owns 352,844 shares of the company’s stock, valued at approximately $18,372,587.08. This represents a 10.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,306,335 shares of company stock worth $77,348,316. 22.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Roblox

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc increased its position in Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after buying an additional 239 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Roblox during the 3rd quarter valued at approximately $27,000. Frazier Financial Advisors LLC increased its holdings in Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after acquiring an additional 624 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after acquiring an additional 230 shares during the period. Finally, GAMMA Investing LLC lifted its holdings 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 purchasing an additional 530 shares in the last quarter. 94.46% 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.