Brokerages Set Roblox Co. (NYSE:RBLX) Target Price at $55.67

Shares of Roblox Co. (NYSE:RBLX) have earned a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $55.67.

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased 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. Citigroup raised their target price on shares of Roblox from $53.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Raymond James reissued a “strong-buy” rating and issued a $60.00 price objective on shares of Roblox in a report on Friday, November 22nd. Finally, Macquarie raised their price objective on Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st.

Roblox Price Performance

RBLX stock opened at $59.93 on Friday. The firm has a market cap of $36.41 billion, a P/E ratio of -36.54 and a beta of 1.50. Roblox has a 52 week low of $29.55 and a 52 week high of $61.77. The firm’s fifty day moving average is $52.26 and its 200 day moving average is $44.75. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The company had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business posted ($0.45) earnings per share. Roblox’s revenue for the quarter was up 9.5% on a year-over-year basis. Research analysts predict that Roblox will post -1.56 earnings per share for the current year.

Insider Activity

In related news, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $41.50, for a total value of $1,245,000.00. Following the transaction, the chief financial officer now owns 352,844 shares of the company’s stock, valued at $14,643,026. This represents a 7.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $52.90, for a total value of $115,639.40. Following the transaction, the chief accounting officer now owns 91,062 shares in the company, valued at $4,817,179.80. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,284,601 shares of company stock valued at $66,867,735. 22.15% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roblox

Several institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in Roblox during the 3rd quarter valued at about $27,000. Frazier Financial Advisors LLC lifted its position in shares of Roblox by 20,800.0% in the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after acquiring an additional 624 shares in the last quarter. PARK CIRCLE Co acquired a new stake in shares of Roblox in the second quarter valued at about $30,000. Strategic Financial Concepts LLC acquired a new stake in shares of Roblox in the second quarter valued at approximately $33,000. Finally, GAMMA Investing LLC increased its position in Roblox by 132.8% during the third quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after purchasing an additional 530 shares during the last quarter. 94.46% 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.