Macquarie Forecasts Strong Price Appreciation for Roblox (NYSE:RBLX) Stock

Roblox (NYSE:RBLX) had its price objective boosted by Macquarie from $71.00 to $76.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Macquarie’s price target indicates a potential upside of 16.06% from the company’s current price.

Other analysts have also issued research reports about the company. Piper Sandler reissued an “overweight” rating and set a $72.00 price target (up previously from $65.00) on shares of Roblox in a report on Tuesday, January 28th. Canaccord Genuity Group increased their target price on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Roth Mkm lifted their price target on shares of Roblox from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, January 27th. HSBC started coverage on shares of Roblox in a research note on Thursday, December 12th. They issued a “buy” rating and a $63.00 price objective for the company. Finally, Needham & Company LLC lifted their target price on shares of Roblox from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.76.

Roblox Stock Performance

RBLX traded down $1.64 during midday trading on Friday, hitting $65.48. 17,156,195 shares of the company traded hands, compared to its average volume of 9,231,265. The firm has a market capitalization of $39.78 billion, a PE ratio of -39.65 and a beta of 1.46. Roblox has a 52 week low of $29.55 and a 52 week high of $75.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The company’s 50-day moving average is $62.14 and its 200 day moving average is $50.44.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. On average, research analysts expect that Roblox will post -1.56 EPS for the current year.

Insider Transactions at Roblox

In related news, CEO David Baszucki sold 138,555 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $71.62, for a total transaction of $9,923,309.10. Following the completion of the sale, the chief executive officer now directly owns 129,301 shares of the company’s stock, valued at approximately $9,260,537.62. This trade represents a 51.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amy Marie Rawlings sold 3,601 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $49.32, for a total transaction of $177,601.32. Following the completion of the transaction, the chief accounting officer now directly owns 81,407 shares in the company, valued at $4,014,993.24. This represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,306,335 shares of company stock worth $77,348,316. 22.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Truist Financial Corp purchased a new stake in shares of Roblox during the second quarter valued at about $559,000. Cetera Investment Advisers grew its holdings in Roblox by 4.4% during the second quarter. Cetera Investment Advisers now owns 41,332 shares of the company’s stock worth $1,538,000 after acquiring an additional 1,748 shares during the period. Sanctuary Advisors LLC purchased a new stake in Roblox during the second quarter worth $1,105,000. GAMMA Investing LLC boosted 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 in the last quarter. Finally, Dynamic Advisor Solutions LLC acquired a new position in shares of Roblox during the 3rd quarter worth approximately $235,000. 94.46% of the stock is currently 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.