Roblox (NYSE:RBLX) Price Target Raised to $50.00

Roblox (NYSE:RBLX) had its target price increased by Barclays from $40.00 to $50.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other analysts have also recently weighed in on RBLX. The Goldman Sachs Group boosted their price target on Roblox from $38.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Roblox in a research report on Thursday, July 11th. They issued a “hold” rating and a $42.00 price target on the stock. Benchmark upped their price objective on shares of Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Friday. 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 report on Friday. Finally, Roth Mkm raised their price target on Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $52.55.

Roblox Trading Down 0.5 %

NYSE:RBLX opened at $51.44 on Friday. The stock has a market cap of $30.79 billion, a PE ratio of -31.37 and a beta of 1.56. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50-day moving average is $43.67 and its two-hundred day moving average is $39.38. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $52.65.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.01. Roblox had a negative return on equity of 1,283.93% and a negative net margin of 30.90%. The company 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 posted ($0.45) EPS. The business’s revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts forecast that Roblox will post -1.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the transaction, the chief financial officer now owns 374,633 shares in the company, valued at approximately $14,543,253.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the sale, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at approximately $14,543,253.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Reinstra sold 17,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $40.47, for a total value of $687,990.00. Following the completion of the transaction, the insider now directly owns 342,656 shares of the company’s stock, valued at approximately $13,867,288.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 979,341 shares of company stock worth $43,897,012 over the last 90 days. Corporate insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Several institutional investors and hedge funds have recently made changes to their positions in RBLX. Impact Partnership Wealth LLC increased its position in shares of Roblox by 3.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after purchasing an additional 245 shares in the last quarter. Swedbank AB increased its holdings in shares of Roblox by 0.5% during the second quarter. Swedbank AB now owns 53,297 shares of the company’s stock worth $1,983,000 after buying an additional 285 shares in the last quarter. Thrive Wealth Management LLC raised its stake in shares of Roblox by 4.3% in the second quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock valued at $274,000 after acquiring an additional 300 shares during the last quarter. Mystic Asset Management Inc. boosted its holdings in shares of Roblox by 4.0% in the 1st quarter. Mystic Asset Management Inc. now owns 8,550 shares of the company’s stock worth $326,000 after acquiring an additional 325 shares in the last quarter. Finally, Atomi Financial Group Inc. boosted its holdings in shares of Roblox by 0.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 136,658 shares of the company’s stock worth $6,048,000 after acquiring an additional 380 shares in the last quarter. Institutional investors and hedge funds own 91.08% 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.