Benchmark Increases Roblox (NYSE:RBLX) Price Target to $71.00

Roblox (NYSE:RBLX) had its price target lifted by equities research analysts at Benchmark from $60.00 to $71.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s price objective would indicate a potential upside of 9.02% from the company’s current price.

A number of other equities research analysts have also issued reports on RBLX. Canaccord Genuity Group upped their target price on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $72.00 target price (up previously from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. BMO Capital Markets reissued an “outperform” rating and set a $62.00 price target (up previously from $56.00) on shares of Roblox in a research note on Friday, November 1st. Wedbush reissued an “outperform” rating and set a $49.00 price target on shares of Roblox in a research note on Friday, October 25th. Finally, HSBC assumed coverage on Roblox in a research note on Thursday, December 12th. They set a “buy” rating and a $63.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.76.

Roblox Price Performance

Shares of NYSE:RBLX traded down $1.99 during trading on Friday, hitting $65.13. 14,507,707 shares of the stock were exchanged, compared to its average volume of 9,169,337. The company has a fifty day moving average price of $62.14 and a two-hundred day moving average price of $50.44. The company has a market cap of $39.57 billion, a PE ratio of -40.00 and a beta of 1.46. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox has a 12-month low of $29.55 and a 12-month high of $75.74.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.13. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. On average, analysts forecast that Roblox will post -1.56 EPS for the current year.

Insider Buying and Selling at Roblox

In other news, insider Mark Reinstra sold 16,480 shares of Roblox stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $51.43, for a total transaction of $847,566.40. Following the sale, the insider now directly owns 278,161 shares of the company’s stock, valued at approximately $14,305,820.23. The trade was a 5.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amy Marie Rawlings sold 3,601 shares of Roblox stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $49.32, for a total value of $177,601.32. Following the sale, the chief accounting officer now directly owns 81,407 shares in the company, valued at approximately $4,014,993.24. The trade was a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,306,335 shares of company stock valued at $77,348,316 over the last three months. 22.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roblox

Hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in Roblox in the third quarter valued at approximately $27,000. Frazier Financial Advisors LLC raised its holdings in shares of Roblox by 20,800.0% during the third quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after buying an additional 624 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Roblox by 83.9% during the fourth 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 raised its holdings in shares of Roblox by 132.8% during the third 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 last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Roblox by 44.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock valued at $43,000 after buying an additional 230 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

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.