Roblox (NYSE:RBLX) Price Target Raised to $159.00

Roblox (NYSE:RBLX) had its price objective boosted by Needham & Company LLC from $79.00 to $159.00 in a research note issued to investors on Friday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other research firms have also issued reports on RBLX. Macquarie lifted their price objective on Roblox from $76.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, May 5th. Wedbush boosted their target price on Roblox from $110.00 to $142.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Oppenheimer reissued an “outperform” rating and issued a $125.00 target price (up previously from $80.00) on shares of Roblox in a research note on Wednesday, June 18th. JPMorgan Chase & Co. boosted their price target on Roblox from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Finally, The Goldman Sachs Group boosted their price target on Roblox from $63.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, May 14th. 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 company’s stock. According to MarketBeat, Roblox presently has a consensus rating of “Moderate Buy” and an average target price of $117.59.

Roblox Stock Performance

NYSE: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 fifty day simple moving average of $105.05 and a two-hundred day simple moving average of $78.76. Roblox has a 1 year low of $35.30 and a 1 year high of $150.59. The company has a market capitalization of $80.73 billion, a P/E ratio of -87.52 and a beta of 1.63.

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

Insider Buying and Selling at Roblox

In other news, Director Anthony P. Lee sold 66,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $103.89, for a total transaction of $6,856,740.00. Following the transaction, the director directly owned 284,488 shares of the company’s stock, valued at $29,555,458.32. This represents a 18.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Baszucki sold 139,507 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $105.19, for a total value of $14,674,741.33. Following the transaction, the chief executive officer directly owned 211,559 shares in the company, valued at $22,253,891.21. The trade was a 39.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,251,703 shares of company stock worth $492,380,210. Insiders own 12.92% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several hedge funds and other institutional investors have recently modified their holdings of the company. Yousif Capital Management LLC raised its holdings in Roblox by 1.9% in the 2nd quarter. Yousif Capital Management LLC now owns 6,925 shares of the company’s stock worth $729,000 after purchasing an additional 127 shares during the period. Farther Finance Advisors LLC increased its stake in Roblox by 21.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 801 shares of the company’s stock worth $84,000 after buying an additional 141 shares in the last quarter. Independent Wealth Network Inc. increased its stake in Roblox by 3.9% in the 2nd quarter. Independent Wealth Network Inc. now owns 3,885 shares of the company’s stock worth $409,000 after buying an additional 146 shares in the last quarter. MetLife Investment Management LLC increased its stake in Roblox by 0.5% in the 4th quarter. MetLife Investment Management LLC now owns 32,374 shares of the company’s stock worth $1,873,000 after buying an additional 161 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in Roblox by 1.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 13,295 shares of the company’s stock worth $775,000 after buying an additional 163 shares in the last quarter. 94.46% of the stock is owned by institutional investors.

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.