Roblox (NYSE:RBLX) Price Target Raised to $120.00

Roblox (NYSE:RBLX) had its price objective hoisted by Barclays from $62.00 to $120.00 in a research note released on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities analysts have also recently issued reports on RBLX. BMO Capital Markets lifted their price objective on Roblox from $95.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Citigroup lifted their price objective on Roblox from $123.00 to $152.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Needham & Company LLC lifted their price objective on Roblox from $79.00 to $159.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler lifted their price objective on Roblox from $105.00 to $138.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. Finally, Macquarie boosted their price target on Roblox from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, Roblox has an average rating of “Moderate Buy” and a consensus target price of $117.59.

Roblox Stock Down 9.2%

RBLX opened at $125.16 on Friday. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.97 and a quick ratio of 0.97. The business has a 50 day simple moving average of $105.05 and a 200-day simple moving average of $78.76. The stock has a market capitalization of $80.73 billion, a P/E ratio of -87.52 and a beta of 1.63. Roblox has a 12 month low of $35.30 and a 12 month high of $150.59.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.04). The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.20 billion. Roblox had a negative net margin of 23.67% and a negative return on equity of 372.96%. The firm’s quarterly revenue was up 50.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.32) earnings per share. On average, equities analysts anticipate that Roblox will post -1.49 earnings per share for the current fiscal year.

Insider Activity

In other Roblox news, insider Matthew D. Kaufman sold 6,000 shares of the business’s stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $118.51, for a total transaction of $711,060.00. Following the completion of the sale, the insider owned 307,223 shares of the company’s stock, valued at approximately $36,408,997.73. The trade was a 1.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anthony P. Lee sold 66,000 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $103.89, for a total value of $6,856,740.00. Following the sale, the director directly owned 284,488 shares of the company’s stock, valued at approximately $29,555,458.32. This trade represents a 18.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,251,703 shares of company stock valued at $492,380,210 over the last quarter. Company insiders own 12.92% of the company’s stock.

Institutional Investors Weigh In On Roblox

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

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.