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

Roblox (NYSE:RBLX) had its price objective lifted by analysts at Needham & Company LLC from $50.00 to $60.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 16.64% from the stock’s current price.

RBLX has been the topic of a number of other reports. BMO Capital Markets restated an “outperform” rating and set a $56.00 price objective on shares of Roblox in a research report on Tuesday, July 30th. Roth Mkm increased their price objective on shares of Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Wedbush reiterated an “outperform” rating and set a $49.00 target price on shares of Roblox in a research report on Friday, October 25th. Citigroup increased their price target on shares of Roblox from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Barclays lifted their price objective on Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Roblox has a consensus rating of “Moderate Buy” and an average target price of $52.55.

Roblox Stock Down 0.5 %

RBLX opened at $51.44 on Friday. Roblox has a 1-year low of $29.55 and a 1-year high of $52.65. The business has a 50 day moving average of $43.67 and a 200-day moving average of $39.35. The stock has a market capitalization of $30.79 billion, a price-to-earnings ratio of -31.37 and a beta of 1.56. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.01. Roblox had a negative net margin of 30.90% and a negative return on equity of 1,283.93%. 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 prior year, the business earned ($0.45) earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Roblox will post -1.58 earnings per share for the current year.

Insider Transactions at Roblox

In related news, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total value 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 $14,543,253.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Roblox news, insider Mark Reinstra sold 17,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $40.47, for a total value of $687,990.00. Following the transaction, the insider now directly owns 342,656 shares of the company’s stock, valued at approximately $13,867,288.32. This trade represents a 0.00 % 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 the SEC website. 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 sale, the chief financial officer now owns 374,633 shares of the company’s stock, valued at $14,543,253.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 979,341 shares of company stock worth $43,897,012. Corporate insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Roblox by 10.4% during the first quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock worth $1,950,322,000 after buying an additional 4,818,022 shares during the last quarter. Ieq Capital LLC boosted its stake in Roblox by 27.6% during the 1st quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock worth $473,811,000 after acquiring an additional 2,684,713 shares during the last quarter. Dragoneer Investment Group LLC grew its holdings in Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares during the period. Greenvale Capital LLP bought a new stake in Roblox in the second quarter valued at approximately $89,304,000. Finally, Marshall Wace LLP acquired a new stake in Roblox in the second quarter worth $87,543,000. 91.08% of the stock is 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.