Piper Sandler Boosts Roblox (NYSE:RBLX) Price Target to $54.00

Roblox (NYSE:RBLX) had its target price upped by equities research analysts at Piper Sandler from $48.00 to $54.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 30.43% from the stock’s previous close.

RBLX has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft lifted their target price on Roblox from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Needham & Company LLC upped their price objective on Roblox from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Roth Mkm raised their target price on shares of Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Wolfe Research assumed coverage on shares of Roblox in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $46.00 price target on shares of Roblox in a research note on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.14.

Roblox Trading Down 0.8 %

NYSE RBLX opened at $41.40 on Wednesday. Roblox has a 52 week low of $29.55 and a 52 week high of $48.43. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50 day moving average price is $42.67 and its two-hundred day moving average price is $38.80.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. The business had revenue of $893.50 million for the quarter, compared to analyst estimates of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.46) earnings per share. As a group, research analysts forecast that Roblox will post -1.59 earnings per share for the current year.

Insider Activity

In other Roblox news, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $40.45, for a total value of $525,850.00. Following the completion of the sale, the director now owns 9,708,603 shares in the company, valued at $392,712,991.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Gregory Baszucki sold 13,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $40.45, for a total transaction of $525,850.00. Following the sale, the director now owns 9,708,603 shares of the company’s stock, valued at $392,712,991.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the transaction, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at $14,543,253.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 625,673 shares of company stock valued at $27,331,806. 22.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roblox

A number of large investors have recently bought and sold shares of RBLX. PARK CIRCLE Co bought a new stake in shares of Roblox during the 2nd quarter worth approximately $30,000. GAMMA Investing LLC raised its position 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. Gilliland Jeter Wealth Management LLC lifted its stake in Roblox by 102.4% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after purchasing an additional 506 shares during the last quarter. Washington Trust Advisors Inc. acquired a new stake in shares of Roblox in the 1st quarter valued at $39,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Roblox by 98.9% in 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. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.