Roblox (NYSE:RBLX) Price Target Raised to $75.00

Roblox (NYSE:RBLX) had its price target hoisted by Morgan Stanley from $65.00 to $75.00 in a research note published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Canaccord Genuity Group lifted their price objective on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Macquarie upped their price objective on shares of Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Barclays raised their target price on shares of Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Roblox has a consensus rating of “Moderate Buy” and a consensus target price of $56.62.

Roblox Stock Up 2.3 %

Shares of RBLX opened at $63.69 on Monday. The firm has a fifty day moving average price of $56.39 and a 200-day moving average price of $47.12. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. Roblox has a 12-month low of $29.55 and a 12-month high of $64.43.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. The company had revenue of $919.00 million during 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 986.36%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.45) EPS. On average, equities analysts expect that Roblox will post -1.56 EPS for the current year.

Insider Buying and Selling

In other news, insider Manuel Bronstein sold 44,888 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $60.01, for a total value of $2,693,728.88. Following the completion of the transaction, the insider now directly owns 573,266 shares in the company, valued at $34,401,692.66. This trade represents a 7.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark Reinstra sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $59.75, for a total value of $1,434,000.00. Following the completion of the sale, the insider now owns 278,161 shares in the company, valued at approximately $16,620,119.75. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,254,601 shares of company stock worth $65,622,735 in the last three months. Corporate insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

Institutional investors and hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in shares of Roblox in the third quarter worth $27,000. Frazier Financial Advisors LLC grew its position in Roblox by 20,800.0% during the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock worth $28,000 after purchasing an additional 624 shares during the period. Versant Capital Management Inc raised its stake in shares of Roblox by 83.9% during 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 last quarter. GAMMA Investing LLC lifted its holdings in shares of Roblox by 132.8% in the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after buying an additional 530 shares during the period. Finally, Huntington National Bank boosted its stake in shares of Roblox by 277.0% in the third quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after buying an additional 770 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

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.