Roblox (NYSE:RBLX) Price Target Raised to $160.00

Roblox (NYSE:RBLX) had its target price lifted by Canaccord Genuity Group from $125.00 to $160.00 in a research note published on Thursday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other analysts have also issued reports on RBLX. Wedbush boosted their price objective on shares of Roblox from $110.00 to $142.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Morgan Stanley cut their price target on shares of Roblox from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Needham & Company LLC reiterated a “buy” rating on shares of Roblox in a research note on Friday, May 2nd. The Goldman Sachs Group boosted their price target on shares of Roblox from $63.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 14th. Finally, Raymond James Financial lowered shares of Roblox from a “strong-buy” rating to an “outperform” rating and boosted their price target for the stock from $81.00 to $130.00 in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $117.59.

Roblox Stock Performance

RBLX opened at $125.16 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39. The firm has a market capitalization of $84.89 billion, a PE ratio of -87.52 and a beta of 1.63. The firm has a 50 day moving average of $105.05 and a two-hundred day moving average of $78.67. Roblox has a 12-month low of $35.30 and a 12-month high of $150.59.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, July 31st. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.04). Roblox had a negative return on equity of 417.87% and a negative net margin of 23.67%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm earned ($0.32) EPS. The company’s revenue for the quarter was up 50.5% compared to the same quarter last year. On average, analysts anticipate that Roblox will post -1.49 EPS for the current year.

Insider Transactions at Roblox

In related news, CEO David Baszucki sold 1,375,002 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $72.19, for a total value of $99,261,394.38. Following the completion of the transaction, the chief executive officer directly owned 221,983 shares of the company’s stock, valued at $16,024,952.77. This represents a 86.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 6,651,690 shares of company stock valued at $593,440,562 over the last three months. Corporate insiders own 12.92% of the company’s stock.

Hedge Funds Weigh In On Roblox

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gordian Capital Singapore Pte Ltd boosted its holdings in Roblox by 74.8% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock valued at $32,000 after purchasing an additional 240 shares in the last quarter. ORG Partners LLC acquired a new stake in shares of Roblox in the second quarter valued at approximately $33,000. Larson Financial Group LLC boosted its holdings in shares of Roblox by 819.0% in the first quarter. Larson Financial Group LLC now owns 579 shares of the company’s stock valued at $34,000 after acquiring an additional 516 shares during the period. Whipplewood Advisors LLC acquired a new stake in shares of Roblox in the second quarter valued at approximately $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Roblox in the first quarter valued at approximately $39,000. 94.46% of the stock is owned by institutional investors and hedge funds.

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.