Roblox (NYSE:RBLX) PT Raised to $51.00 at Needham & Company LLC

Roblox (NYSE:RBLX) had its target price boosted by Needham & Company LLC from $40.00 to $51.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also commented on RBLX. Deutsche Bank Aktiengesellschaft cut their target price on Roblox from $55.00 to $45.00 in a research report on Thursday, August 10th. Jefferies Financial Group cut their target price on Roblox from $38.00 to $34.00 and set a buy rating on the stock in a research report on Thursday, October 5th. Truist Financial raised Roblox from a hold rating to a buy rating and upped their price target for the stock from $35.00 to $37.00 in a research note on Friday, October 27th. Barclays dropped their price target on Roblox from $32.00 to $26.00 and set an underweight rating on the stock in a research note on Thursday, August 10th. Finally, Wedbush raised Roblox from a neutral rating to an outperform rating and set a $37.00 price target on the stock in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $40.40.

Roblox Stock Up 1.0 %

Shares of Roblox stock opened at $38.42 on Thursday. Roblox has a one year low of $24.88 and a one year high of $47.65. The company has a debt-to-equity ratio of 8.38, a current ratio of 1.06 and a quick ratio of 1.10. The stock’s 50-day moving average is $30.32 and its 200 day moving average is $34.97. The firm has a market cap of $22.04 billion, a price-to-earnings ratio of -20.99 and a beta of 1.56.

Roblox (NYSE:RBLX) last announced its earnings results on Wednesday, November 8th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.07. Roblox had a negative return on equity of 536.12% and a negative net margin of 42.54%. The company had revenue of $839.45 million for the quarter, compared to analyst estimates of $824.71 million. During the same quarter in the prior year, the company earned ($0.50) EPS. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. Equities research analysts anticipate that Roblox will post -1.91 EPS for the current year.

Insider Activity

In other news, Director Gregory Baszucki sold 8,333 shares of the company’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $31.05, for a total value of $258,739.65. Following the completion of the transaction, the director now directly owns 9,838,602 shares of the company’s stock, valued at $305,488,592.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Amy Marie Rawlings sold 3,089 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $27.14, for a total value of $83,835.46. Following the completion of the transaction, the chief accounting officer now directly owns 92,556 shares of the company’s stock, valued at $2,511,969.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory Baszucki sold 8,333 shares of the stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $31.05, for a total value of $258,739.65. Following the transaction, the director now directly owns 9,838,602 shares of the company’s stock, valued at $305,488,592.10. The disclosure for this sale can be found here. Insiders sold a total of 67,200 shares of company stock valued at $1,861,227 over the last three months. Corporate insiders own 27.67% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several institutional investors and hedge funds have recently bought and sold shares of RBLX. Bank of New York Mellon Corp grew its holdings in Roblox by 5.2% during the first quarter. Bank of New York Mellon Corp now owns 788,954 shares of the company’s stock valued at $36,481,000 after purchasing an additional 39,203 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Roblox by 7.9% in the first quarter. PNC Financial Services Group Inc. now owns 18,574 shares of the company’s stock worth $860,000 after acquiring an additional 1,361 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Roblox by 949.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 20,062 shares of the company’s stock worth $928,000 after acquiring an additional 18,150 shares during the period. BlackRock Inc. boosted its holdings in shares of Roblox by 265.4% in the first quarter. BlackRock Inc. now owns 311,209 shares of the company’s stock worth $14,390,000 after acquiring an additional 226,029 shares during the period. Finally, Cibc World Market Inc. raised its position in shares of Roblox by 62.0% in the first quarter. Cibc World Market Inc. now owns 92,495 shares of the company’s stock worth $4,277,000 after buying an additional 35,412 shares in the last quarter. 69.92% of the stock is owned by institutional investors.

Roblox Company Profile

Roblox Corporation develops and operates an online entertainment platform. The company 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 digital world; Roblox Education for learning experiences; and Roblox Cloud, which provides services and infrastructure that power the human co-experience platform.