Roblox (NYSE:RBLX) Receives Overweight Rating from Piper Sandler

Roblox (NYSE:RBLX)‘s stock had its “overweight” rating reiterated by Piper Sandler in a report released on Friday, Benzinga reports. They presently have a $40.00 price target on the stock, down from their previous price target of $56.00. Piper Sandler’s target price would suggest a potential upside of 26.62% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Needham & Company LLC cut their target price on Roblox from $55.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday. The Goldman Sachs Group raised Roblox from a “sell” rating to a “neutral” rating and increased their target price for the company from $35.00 to $48.00 in a research note on Thursday, February 8th. Moffett Nathanson raised Roblox from a “sell” rating to a “neutral” rating and set a $26.00 target price on the stock in a research note on Friday. JPMorgan Chase & Co. raised Roblox from a “neutral” rating to an “overweight” rating and increased their target price for the company from $41.00 to $48.00 in a research note on Tuesday, April 23rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $53.00 price target on shares of Roblox in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.81.

Roblox Price Performance

Roblox stock traded up $1.17 on Friday, reaching $31.59. The company’s stock had a trading volume of 9,034,003 shares, compared to its average volume of 8,093,513. The company has a debt-to-equity ratio of 14.64, a quick ratio of 1.07 and a current ratio of 1.07. Roblox has a twelve month low of $24.88 and a twelve month high of $47.20. The company has a market cap of $19.95 billion, a price-to-earnings ratio of -16.89 and a beta of 1.63. The business’s fifty day moving average price is $37.81 and its 200 day moving average price is $39.39.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.10. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The business had revenue of $923.76 million for the quarter, compared to analyst estimates of $918.85 million. During the same quarter in the prior year, the firm posted ($0.44) earnings per share. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. Equities analysts expect that Roblox will post -2.09 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO David Baszucki sold 200,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $44.09, for a total transaction of $8,818,000.00. Following the sale, the chief executive officer now owns 1 shares in the company, valued at approximately $44.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Roblox news, CAO Amy Marie Rawlings sold 3,777 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total transaction of $153,497.28. Following the completion of the sale, the chief accounting officer now directly owns 96,125 shares of the company’s stock, valued at approximately $3,906,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Baszucki sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $44.09, for a total value of $8,818,000.00. Following the sale, the chief executive officer now directly owns 1 shares of the company’s stock, valued at $44.09. The disclosure for this sale can be found here. In the last quarter, insiders have sold 512,374 shares of company stock worth $20,809,338. Insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new position in Roblox in the fourth quarter valued at approximately $25,000. Washington Trust Advisors Inc. bought a new position in shares of Roblox in the first quarter worth $39,000. Blue Trust Inc. boosted its holdings in shares of Roblox by 566.5% in the fourth quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock worth $49,000 after acquiring an additional 912 shares during the period. Allworth Financial LP boosted its holdings in shares of Roblox by 90.2% in the fourth quarter. Allworth Financial LP now owns 1,238 shares of the company’s stock worth $57,000 after acquiring an additional 587 shares during the period. Finally, Rakuten Securities Inc. bought a new position in shares of Roblox in the fourth quarter worth $58,000. 91.08% of the stock is owned by institutional investors.

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.