Roblox (NYSE:RBLX – Get Free Report) had its target price lifted by research analysts at Roth Mkm from $54.00 to $70.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Roth Mkm’s price objective indicates a potential upside of 3.88% from the stock’s previous close.
A number of other research analysts also recently weighed in on the company. Barclays raised their price objective on Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Macquarie raised their price target on Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. BTIG Research raised their price objective on Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Canaccord Genuity Group boosted their price objective on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.81.
Get Our Latest Stock Analysis on RBLX
Roblox Stock Up 0.5 %
Roblox (NYSE:RBLX – Get Free Report) 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. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The business had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business earned ($0.45) EPS. Roblox’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, equities analysts anticipate that Roblox will post -1.56 earnings per share for the current fiscal year.
Insider Activity at Roblox
In other Roblox news, CEO David Baszucki sold 166,666 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $50.71, for a total value of $8,451,632.86. Following the sale, the chief executive officer now directly owns 135,755 shares in the company, valued at approximately $6,884,136.05. This trade represents a 55.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of the business’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 of the company’s stock, valued at $4,817,179.80. This trade represents a 2.34 % 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 over the last ninety days. Company insiders own 22.15% of the company’s stock.
Institutional Trading of Roblox
Several hedge funds have recently added to or reduced their stakes in RBLX. ValueAct Holdings L.P. raised its position in shares of Roblox by 340.7% during the third quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock worth $448,616,000 after purchasing an additional 7,835,921 shares during the period. FMR LLC lifted its stake in Roblox by 24.5% in the third quarter. FMR LLC now owns 20,942,691 shares of the company’s stock valued at $926,924,000 after buying an additional 4,115,286 shares in the last quarter. Whale Rock Capital Management LLC acquired a new position in shares of Roblox in the third quarter valued at approximately $107,491,000. Greenvale Capital LLP bought a new stake in shares of Roblox during the second quarter worth $89,304,000. Finally, Two Sigma Advisers LP raised its holdings in shares of Roblox by 32.9% during the third quarter. Two Sigma Advisers LP now owns 5,864,800 shares of the company’s stock worth $259,576,000 after acquiring an additional 1,452,900 shares during the period. Institutional investors and hedge funds own 94.46% 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.
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