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

Roblox (NYSE:RBLX) had its price target upped by equities research analysts at Roth Mkm from $54.00 to $70.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Roth Mkm’s target price would suggest a potential upside of 3.88% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. BMO Capital Markets restated an “outperform” rating and set a $62.00 target price (up from $56.00) on shares of Roblox in a research note on Friday, November 1st. Needham & Company LLC lifted their target price on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wedbush reissued an “outperform” rating and issued a $49.00 price target on shares of Roblox in a report on Friday, October 25th. Finally, Wells Fargo & Company lifted their price objective on Roblox from $58.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Seven 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 stock. Based on data from MarketBeat, Roblox presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.81.

Roblox Stock Up 0.5 %

Shares of NYSE:RBLX traded up $0.31 during midday trading on Monday, hitting $67.38. 1,846,649 shares of the company’s stock traded hands, compared to its average volume of 6,021,083. Roblox has a twelve month low of $29.55 and a twelve month high of $67.86. The company has a market cap of $40.94 billion, a PE ratio of -41.00 and a beta of 1.43. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. The firm’s fifty day moving average price is $58.44 and its two-hundred day moving average price is $48.66.

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 ($0.39) by $0.02. The company had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.45) earnings per share. On average, equities research analysts anticipate that Roblox will post -1.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Roblox news, CAO Amy Marie Rawlings sold 5,879 shares of Roblox stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $65.00, for a total transaction of $382,135.00. Following the transaction, the chief accounting officer now directly owns 75,528 shares in the company, valued at approximately $4,909,320. The trade was a 7.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Reinstra sold 24,000 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $65.89, for a total value of $1,581,360.00. Following the completion of the sale, the insider now owns 281,161 shares of the company’s stock, valued at $18,525,698.29. The trade was a 7.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,417,812 shares of company stock worth $80,070,173 in the last ninety days. 22.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Simon Quick Advisors LLC increased its holdings in shares of Roblox by 4.6% in the 4th quarter. Simon Quick Advisors LLC now owns 4,915 shares of the company’s stock valued at $284,000 after purchasing an additional 217 shares during the period. Versant Capital Management Inc increased its stake in 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 buying an additional 239 shares during the period. Impact Partnership Wealth LLC lifted its position in Roblox by 3.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after buying an additional 245 shares in the last quarter. Yousif Capital Management LLC boosted its stake in shares of Roblox by 3.8% during the 4th quarter. Yousif Capital Management LLC now owns 6,672 shares of the company’s stock valued at $386,000 after buying an additional 245 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Roblox by 29.2% during the 4th quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock valued at $69,000 after acquiring an additional 271 shares in the last quarter. 94.46% of the stock is owned by institutional investors and hedge funds.

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.