Brokerages Set Roblox Co. (NYSE:RBLX) Target Price at $55.67

Shares of Roblox Co. (NYSE:RBLX) have been assigned a consensus rating of “Moderate Buy” from the twenty-three analysts that are covering the company, MarketBeat Ratings reports. Seven 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 company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $55.67.

A number of equities research analysts have recently weighed in on RBLX shares. Benchmark raised their price target on Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. The Goldman Sachs Group raised their target price 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. Wedbush reaffirmed an “outperform” rating and set a $49.00 target price on shares of Roblox in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft boosted their price target on Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Needham & Company LLC raised their price target on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st.

Roblox Price Performance

Shares of NYSE RBLX opened at $59.93 on Friday. The firm’s 50-day simple moving average is $52.26 and its 200 day simple moving average is $44.75. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The stock has a market cap of $36.41 billion, a P/E ratio of -36.54 and a beta of 1.50. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $61.77.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The firm had revenue of $919.00 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company earned ($0.45) EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities analysts expect that Roblox will post -1.56 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Amy Marie Rawlings sold 2,186 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $52.90, for a total transaction of $115,639.40. Following the completion of the transaction, the chief accounting officer now directly owns 91,062 shares in the company, valued at approximately $4,817,179.80. This represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Baszucki sold 166,668 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $42.15, for a total transaction of $7,025,056.20. Following the sale, the chief executive officer now directly owns 135,755 shares in the company, valued at $5,722,073.25. The trade was a 55.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,284,601 shares of company stock worth $66,867,735 in the last quarter. 22.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roblox

Institutional investors and hedge funds have recently made changes to their positions in the stock. Toronto Dominion Bank boosted its position in shares of Roblox by 34.3% during the third quarter. Toronto Dominion Bank now owns 60,092 shares of the company’s stock valued at $2,660,000 after buying an additional 15,333 shares during the last quarter. Entropy Technologies LP lifted its holdings in Roblox by 168.4% during the third quarter. Entropy Technologies LP now owns 99,649 shares of the company’s stock worth $4,410,000 after acquiring an additional 62,521 shares during the period. Dragoneer Investment Group LLC grew its position in shares of Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after acquiring an additional 2,488,044 shares during the period. Benjamin Edwards Inc. lifted its position in shares of Roblox by 12,971.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 52,024 shares of the company’s stock valued at $2,302,000 after buying an additional 51,626 shares during the last quarter. Finally, State Street Corp lifted its holdings in Roblox by 2.3% during the third quarter. State Street Corp now owns 10,855,890 shares of the company’s stock valued at $480,482,000 after purchasing an additional 240,565 shares during the last quarter. Institutional investors own 94.46% 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.