Roblox (NYSE:RBLX) Price Target Raised to $63.00

Roblox (NYSE:RBLX) had its price target raised by analysts at The Goldman Sachs Group from $55.00 to $63.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 6.12% from the stock’s current price.

A number of other research analysts have also recently weighed in on the company. BTIG Research raised their price target on Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Roth Mkm increased their target price on Roblox from $54.00 to $70.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Macquarie increased their price objective on Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley raised their price target on shares of Roblox from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Canaccord Genuity Group raised their target price on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.38.

Roblox Trading Down 11.1 %

NYSE:RBLX opened at $67.10 on Friday. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. Roblox has a 1 year low of $29.55 and a 1 year high of $75.74. The stock has a market capitalization of $40.77 billion, a price-to-earnings ratio of -40.92 and a beta of 1.46. The stock has a fifty day moving average price of $62.14 and a two-hundred day moving average price of $50.44.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.13. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. As a group, sell-side analysts anticipate that Roblox will post -1.56 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 6,054 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $51.43, for a total value of $311,357.22. Following the completion of the sale, the chief accounting officer now owns 85,008 shares of the company’s stock, valued at $4,371,961.44. This trade represents a 6.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Baszucki sold 333,334 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $57.31, for a total transaction of $19,103,371.54. Following the completion of the transaction, the chief executive officer now owns 129,295 shares of the company’s stock, valued at $7,409,896.45. This trade represents a 72.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,306,335 shares of company stock valued at $77,348,316 over the last 90 days. Corporate insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of institutional investors have recently added to or reduced their stakes in the company. Simon Quick Advisors LLC increased its position in shares of Roblox by 4.6% during the fourth quarter. Simon Quick Advisors LLC now owns 4,915 shares of the company’s stock worth $284,000 after acquiring an additional 217 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Roblox by 44.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after purchasing an additional 230 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after purchasing an additional 239 shares during the last quarter. Impact Partnership Wealth LLC increased its holdings in Roblox by 3.8% in the third quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock valued at $298,000 after buying an additional 245 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in Roblox by 3.8% during the 4th quarter. Yousif Capital Management LLC now owns 6,672 shares of the company’s stock worth $386,000 after buying an additional 245 shares during the last quarter. Institutional investors and hedge funds 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.