Roblox (NYSE:RBLX) Price Target Raised to $71.00 at Benchmark

Roblox (NYSE:RBLX) had its target price upped by Benchmark from $60.00 to $71.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also weighed in on RBLX. CICC Research began coverage on Roblox in a research note on Tuesday, January 14th. They issued an “outperform” rating on the stock. Needham & Company LLC lifted their price target on shares of Roblox from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Friday. Roth Mkm upped their price objective on shares of Roblox from $54.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. HSBC initiated coverage on Roblox in a research note on Thursday, December 12th. They issued a “buy” rating and a $63.00 price target on the stock. Finally, Morgan Stanley boosted their target price on Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $64.19.

Roblox Price Performance

NYSE:RBLX opened at $66.41 on Friday. Roblox has a 52 week low of $29.55 and a 52 week high of $75.74. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. The company has a fifty day moving average of $62.47 and a 200 day moving average of $50.62.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 795.19% and a negative net margin of 25.97%. On average, equities research analysts predict that Roblox will post -1.4 earnings per share for the current fiscal year.

Insider Activity

In other Roblox news, CAO Amy Marie Rawlings sold 3,601 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $49.32, for a total transaction of $177,601.32. Following the completion of the sale, the chief accounting officer now owns 81,407 shares of the company’s stock, valued at approximately $4,014,993.24. The trade was a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael Guthrie sold 40,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $52.07, for a total value of $2,082,800.00. Following the completion of the sale, the chief financial officer now owns 352,844 shares of the company’s stock, valued at approximately $18,372,587.08. The trade was a 10.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,306,335 shares of company stock valued at $77,348,316 in the last 90 days. Company insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of hedge funds have recently modified their holdings of RBLX. Simon Quick Advisors LLC lifted its stake in shares of Roblox by 4.6% during the 4th quarter. Simon Quick Advisors LLC now owns 4,915 shares of the company’s stock valued at $284,000 after buying an additional 217 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Roblox by 44.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock valued at $43,000 after acquiring an additional 230 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of 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 acquiring an additional 239 shares during the period. Impact Partnership Wealth LLC raised its stake in Roblox by 3.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock valued at $298,000 after purchasing an additional 245 shares during the period. Finally, Yousif Capital Management LLC lifted its holdings in Roblox by 3.8% in the 4th quarter. Yousif Capital Management LLC now owns 6,672 shares of the company’s stock worth $386,000 after purchasing an additional 245 shares in the last quarter. 94.46% of the stock is currently 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.