Roblox (NYSE:RBLX) Price Target Raised to $70.00

Roblox (NYSE:RBLX) had its price objective increased by Roth Mkm from $54.00 to $70.00 in a research note published on Monday morning,Benzinga reports. Roth Mkm currently has a neutral rating on the stock.

Other equities research analysts have also issued reports about the stock. Macquarie raised their price objective on shares of Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Barclays raised their price target on Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Wells Fargo & Company upped their price objective on Roblox from $58.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. The Goldman Sachs Group raised their target price on Roblox from $45.00 to $55.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC upped their price target on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.14.

Roblox Trading Up 2.3 %

RBLX opened at $70.00 on Monday. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $42.53 billion, a price-to-earnings ratio of -42.68 and a beta of 1.43. The business has a fifty day moving average price of $59.46 and a 200 day moving average price of $49.21. Roblox has a 12 month low of $29.55 and a 12 month high of $70.68.

Roblox (NYSE:RBLX) last released 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 firm had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the firm earned ($0.45) earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Sell-side analysts expect that Roblox will post -1.56 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In other news, insider Mark Reinstra sold 24,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $65.89, for a total transaction of $1,581,360.00. Following the transaction, the insider now directly owns 281,161 shares of the company’s stock, valued at approximately $18,525,698.29. The trade was a 7.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Baszucki sold 333,334 shares of the firm’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 sale, the chief executive officer now directly owns 129,295 shares of the company’s stock, valued at approximately $7,409,896.45. The trade was a 72.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,207,812 shares of company stock worth $69,509,773 in the last ninety days. Insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Roblox in the third quarter worth about $27,000. Frazier Financial Advisors LLC increased its holdings in Roblox by 20,800.0% during the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after purchasing an additional 624 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after purchasing an additional 239 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Roblox by 132.8% during the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after buying an additional 530 shares during the last quarter. Finally, Huntington National Bank grew its position in shares of Roblox by 277.0% during the third quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after buying an additional 770 shares in the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

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.