Roblox (NYSE:RBLX) Given New $40.00 Price Target at Barclays

Roblox (NYSE:RBLX) had its price objective increased by Barclays from $35.00 to $40.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms have also recently commented on RBLX. JPMorgan Chase & Co. upgraded shares of Roblox from a neutral rating to an overweight rating and raised their price target for the stock from $41.00 to $48.00 in a report on Tuesday, April 23rd. Morgan Stanley dropped their price target on shares of Roblox from $42.00 to $35.00 and set an equal weight rating on the stock in a research report on Friday, May 10th. Piper Sandler reaffirmed an overweight rating and set a $40.00 target price (down previously from $56.00) on shares of Roblox in a research report on Friday, May 10th. Roth Capital lowered shares of Roblox from a strong-buy rating to a hold rating in a report on Tuesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Roblox from $55.00 to $40.00 and set a buy rating on the stock in a research note on Friday, May 10th. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Roblox has an average rating of Moderate Buy and a consensus price target of $44.32.

Roblox Stock Performance

Shares of Roblox stock traded up $0.19 during trading hours on Friday, hitting $39.04. The company’s stock had a trading volume of 7,398,291 shares, compared to its average volume of 5,541,735. Roblox has a 1-year low of $24.88 and a 1-year high of $47.20. The business has a fifty day moving average of $37.48 and a 200 day moving average of $38.07. The company has a debt-to-equity ratio of 16.04, a current ratio of 1.07 and a quick ratio of 1.07.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,285.39%. The firm had revenue of $893.50 million for the quarter, compared to the consensus estimate of $897.88 million. During the same period in the prior year, the firm posted ($0.46) EPS. The firm’s revenue was up 31.2% compared to the same quarter last year. On average, equities research analysts predict that Roblox will post -1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Roblox

In other Roblox news, Director Andrea L. Wong sold 5,276 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $31.13, for a total transaction of $164,241.88. Following the transaction, the director now directly owns 26,319 shares of the company’s stock, valued at approximately $819,310.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Arvind Chakravarthy sold 18,165 shares of Roblox stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total transaction of $591,452.40. Following the completion of the sale, the insider now directly owns 322,966 shares in the company, valued at $10,515,772.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrea L. Wong sold 5,276 shares of Roblox stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $31.13, for a total value of $164,241.88. Following the completion of the sale, the director now owns 26,319 shares of the company’s stock, valued at $819,310.47. The disclosure for this sale can be found here. Insiders sold a total of 476,889 shares of company stock worth $17,575,955 over the last three months. 22.15% of the stock is owned by insiders.

Institutional Investors Weigh In On Roblox

A number of large investors have recently modified their holdings of RBLX. Allspring Global Investments Holdings LLC acquired a new position in shares of Roblox during the 4th quarter worth approximately $25,000. PARK CIRCLE Co acquired a new stake in Roblox in the 2nd quarter valued at about $30,000. Gilliland Jeter Wealth Management LLC increased its holdings in shares of Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after acquiring an additional 506 shares during the last quarter. Washington Trust Advisors Inc. purchased a new position in shares of Roblox in the 1st quarter valued at about $39,000. Finally, Blue Trust Inc. grew its stake in Roblox by 566.5% during the 4th quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock worth $49,000 after buying an additional 912 shares during the last quarter. Hedge funds and other institutional investors 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.