Brokerages Set Roblox Co. (NYSE:RBLX) Target Price at $56.62

Roblox Co. (NYSE:RBLX) has received an average rating of “Moderate Buy” from the twenty-four brokerages that are currently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $57.48.

RBLX has been the subject of a number of analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price objective (up previously from $56.00) on shares of Roblox in a research report on Friday, November 1st. Citigroup raised their price objective on Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Canaccord Genuity Group upped their target price on Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Benchmark lifted their price target on shares of Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Needham & Company LLC increased their price objective on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st.

Insider Activity

In other news, CFO Michael Guthrie sold 10,000 shares of Roblox stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $49.44, for a total value of $494,400.00. Following the completion of the sale, the chief financial officer now directly owns 352,844 shares of the company’s stock, valued at approximately $17,444,607.36. The trade was a 2.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark Reinstra sold 16,480 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $51.43, for a total value of $847,566.40. Following the transaction, the insider now owns 278,161 shares of the company’s stock, valued at $14,305,820.23. This trade represents a 5.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,504,601 shares of company stock valued at $81,882,735. Company insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC grew its stake in Roblox by 38.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 25,507 shares of the company’s stock worth $1,476,000 after purchasing an additional 7,103 shares in the last quarter. Simon Quick Advisors LLC boosted its stake in shares of Roblox by 4.6% in the 4th quarter. Simon Quick Advisors LLC now owns 4,915 shares of the company’s stock valued at $284,000 after buying an additional 217 shares during the period. Atomi Financial Group Inc. grew its position in shares of Roblox by 0.7% during the fourth quarter. Atomi Financial Group Inc. now owns 137,642 shares of the company’s stock worth $7,964,000 after buying an additional 984 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of Roblox by 172.3% during the fourth quarter. Ballentine Partners LLC now owns 77,315 shares of the company’s stock worth $4,473,000 after buying an additional 48,919 shares during the period. Finally, Kera Capital Partners Inc. acquired a new stake in Roblox in the fourth quarter valued at approximately $1,026,000. 94.46% of the stock is owned by hedge funds and other institutional investors.

Roblox Stock Performance

NYSE RBLX opened at $65.57 on Thursday. The firm has a market capitalization of $39.84 billion, a P/E ratio of -39.98 and a beta of 1.43. The stock has a 50-day simple moving average of $57.12 and a two-hundred day simple moving average of $47.70. 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 fifty-two week low of $29.55 and a fifty-two week high of $66.51.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The company had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the business earned ($0.45) earnings per share. Roblox’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities analysts forecast that Roblox will post -1.56 earnings per share for the current year.

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.