Roblox (NYSE:RBLX) Price Target Raised to $60.00 at Needham & Company LLC

Roblox (NYSE:RBLX) had its target price raised by Needham & Company LLC from $50.00 to $60.00 in a research report sent to investors on Friday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other research firms have also commented on RBLX. Deutsche Bank Aktiengesellschaft raised their price target on Roblox from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on shares of Roblox from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Macquarie raised their price objective on shares of Roblox from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Benchmark upped their target price on shares of Roblox from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $56.00 price target on shares of Roblox in a research note on Tuesday, July 30th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.55.

Roblox Stock Down 0.5 %

Roblox stock opened at $51.44 on Friday. The firm has a market capitalization of $30.79 billion, a price-to-earnings ratio of -31.37 and a beta of 1.56. The company’s 50 day simple moving average is $43.67 and its 200 day simple moving average is $39.38. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $52.65.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.01. The company had revenue of $919.00 million for the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 1,283.93%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.45) earnings per share. As a group, sell-side analysts anticipate that Roblox will post -1.58 EPS for the current year.

Insider Buying and Selling at Roblox

In other news, Director Anthony P. Lee sold 200,000 shares of Roblox stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the completion of the transaction, the director now directly owns 4,707,579 shares in the company, valued at approximately $236,932,451.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Roblox news, Director Anthony P. Lee sold 200,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the completion of the sale, the director now owns 4,707,579 shares of the company’s stock, valued at $236,932,451.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total transaction 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 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. Company insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Roblox by 98.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after acquiring an additional 548 shares in the last quarter. Norden Group LLC bought a new position in shares of Roblox during the first quarter worth approximately $230,000. Maryland State Retirement & Pension System increased its holdings in shares of Roblox by 4.2% during the first quarter. Maryland State Retirement & Pension System now owns 36,877 shares of the company’s stock worth $1,343,000 after purchasing an additional 1,492 shares during the period. Private Advisor Group LLC raised its position in shares of Roblox by 4.4% in the first quarter. Private Advisor Group LLC now owns 60,111 shares of the company’s stock valued at $2,295,000 after buying an additional 2,506 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Roblox by 4.8% in the first quarter. Nordea Investment Management AB now owns 28,492 shares of the company’s stock valued at $1,104,000 after buying an additional 1,298 shares during the period. Institutional investors own 91.08% of the company’s stock.

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.