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

Roblox (NYSE:RBLX) had its price target raised by Canaccord Genuity Group from $50.00 to $60.00 in a report released on Friday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

RBLX has been the subject of a number of other reports. BTIG Research upped their price objective on shares of Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company increased their price objective on shares of Roblox from $46.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on shares of Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday. Jefferies Financial Group initiated coverage on Roblox in a report on Thursday, July 11th. They set a “hold” rating and a $42.00 target price for the company. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $56.00 price target on shares of Roblox in a report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Roblox presently has an average rating of “Moderate Buy” and an average target price of $52.55.

Roblox Stock Performance

Shares of NYSE:RBLX opened at $51.44 on Friday. The firm has a market cap of $30.79 billion, a PE ratio of -31.37 and a beta of 1.56. The firm’s 50 day simple moving average is $43.67 and its 200-day simple moving average is $39.38. Roblox has a one year low of $29.55 and a one year high of $52.65. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.01. Roblox had a negative return on equity of 1,283.93% and a negative net margin of 30.90%. The company had revenue of $919.00 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business posted ($0.45) EPS. Roblox’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, equities analysts predict that Roblox will post -1.58 EPS for the current year.

Insider Activity at Roblox

In other Roblox news, Director Anthony P. Lee sold 200,000 shares of Roblox stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the completion of the sale, the director now owns 4,707,579 shares of the company’s stock, valued at approximately $236,932,451.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Amy Marie Rawlings sold 4,933 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total transaction of $199,046.55. Following the completion of the transaction, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at $4,019,545.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Anthony P. Lee sold 200,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the completion of the sale, the director now directly owns 4,707,579 shares in the company, valued at approximately $236,932,451.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 979,341 shares of company stock valued at $43,897,012 in the last ninety days. Company insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

A number of hedge funds have recently modified their holdings of the stock. Sigma Planning Corp boosted its position in Roblox by 6.6% in the 3rd quarter. Sigma Planning Corp now owns 6,822 shares of the company’s stock worth $302,000 after purchasing an additional 420 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc boosted its holdings in Roblox by 23.2% during the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 447,067 shares of the company’s stock worth $19,783,000 after buying an additional 84,198 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Roblox during the third quarter valued at $100,000. Principal Financial Group Inc. increased its holdings in Roblox by 308.2% in the third quarter. Principal Financial Group Inc. now owns 181,808 shares of the company’s stock valued at $8,047,000 after buying an additional 137,267 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its position in shares of Roblox by 8.4% in the third quarter. Gulf International Bank UK Ltd now owns 37,686 shares of the company’s stock worth $1,667,000 after acquiring an additional 2,932 shares during the period. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.