Brokerages Set Roblox Co. (NYSE:RBLX) Target Price at $44.40

Roblox Co. (NYSE:RBLX) has been given an average recommendation of “Moderate Buy” by the twenty-two ratings firms that are presently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $44.40.

Several brokerages have commented on RBLX. Needham & Company LLC upped their target price on shares of Roblox from $40.00 to $50.00 and gave the company a “buy” 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 note on Friday, August 2nd. BMO Capital Markets restated an “outperform” rating and set a $56.00 target price on shares of Roblox in a report on Tuesday, July 30th. Wells Fargo & Company upped their price target on Roblox from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Finally, Wolfe Research initiated coverage on shares of Roblox in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock.

Insider Buying and Selling

In other news, insider Mark Reinstra sold 12,000 shares of Roblox 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 sale, the insider now directly owns 342,656 shares in the company, valued at $13,706,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Mark Reinstra sold 12,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $40.00, for a total value of $480,000.00. Following the completion of the transaction, the insider now owns 342,656 shares in the company, valued at approximately $13,706,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $37.82, for a total value of $1,134,600.00. Following the completion of the sale, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $14,168,620.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 608,675 shares of company stock worth $25,410,923. 22.15% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roblox

Several large investors have recently made changes to their positions in the stock. PARK CIRCLE Co bought a new position in Roblox during the second quarter worth about $30,000. Strategic Financial Concepts LLC acquired a new position in shares of Roblox during the 2nd quarter worth approximately $33,000. Gilliland Jeter Wealth Management LLC raised its stake 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 during the period. Washington Trust Advisors Inc. bought a new stake in Roblox in the 1st quarter valued at $39,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Roblox by 98.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after purchasing an additional 548 shares during the last quarter. Institutional investors and hedge funds own 91.08% of the company’s stock.

Roblox Price Performance

Shares of RBLX stock opened at $45.74 on Friday. The firm has a market cap of $27.38 billion, a price-to-earnings ratio of -24.59 and a beta of 1.60. Roblox has a 12 month low of $24.88 and a 12 month high of $47.49. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. The stock has a 50-day moving average price of $41.45 and a 200 day moving average price of $38.22.

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

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.