Roblox’s (RBLX) Overweight Rating Reaffirmed at Piper Sandler

Roblox (NYSE:RBLX)‘s stock had its “overweight” rating reiterated by analysts at Piper Sandler in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $72.00 price objective on the stock, up from their prior price objective of $65.00. Piper Sandler’s price target would indicate a potential upside of 6.23% from the company’s previous close.

A number of other equities analysts also recently issued reports on RBLX. Needham & Company LLC increased their price target on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wedbush reiterated an “outperform” rating and set a $49.00 target price on shares of Roblox in a research report on Friday, October 25th. Morgan Stanley boosted their price target on shares of Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company increased their price objective on shares of Roblox from $58.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, BTIG Research boosted their target price on shares of Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $59.14.

Roblox Stock Performance

NYSE RBLX opened at $67.78 on Tuesday. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $67.86. The firm has a market capitalization of $41.18 billion, a P/E ratio of -41.07 and a beta of 1.43. The stock has a 50-day simple moving average of $58.76 and a two-hundred day simple moving average of $48.86. 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 (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. The firm had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.45) EPS. On average, equities analysts forecast that Roblox will post -1.56 earnings per share for the current year.

Insider Activity at Roblox

In related news, CEO David Baszucki sold 333,334 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $57.31, for a total transaction of $19,103,371.54. Following the completion of the transaction, the chief executive officer now owns 129,295 shares in the company, valued at approximately $7,409,896.45. The trade was a 72.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $52.90, for a total value of $115,639.40. Following the completion of the transaction, the chief accounting officer now directly owns 91,062 shares in the company, valued at $4,817,179.80. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,417,812 shares of company stock worth $80,070,173. Corporate insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RBLX. Envestnet Asset Management Inc. raised its stake in Roblox by 17.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 64,557 shares of the company’s stock worth $2,402,000 after acquiring an additional 9,665 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Roblox by 22.0% during the second quarter. ProShare Advisors LLC now owns 6,697 shares of the company’s stock worth $249,000 after purchasing an additional 1,206 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Roblox by 9.0% during the second quarter. Toronto Dominion Bank now owns 44,759 shares of the company’s stock worth $1,665,000 after purchasing an additional 3,696 shares in the last quarter. AXA S.A. lifted its holdings in shares of Roblox by 4.2% in the 2nd quarter. AXA S.A. now owns 49,374 shares of the company’s stock valued at $1,837,000 after purchasing an additional 1,997 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Roblox by 31.8% in the 2nd quarter. AQR Capital Management LLC now owns 217,588 shares of the company’s stock valued at $8,083,000 after purchasing an additional 52,534 shares during the period. Hedge funds and other institutional investors own 94.46% of the company’s stock.

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.