Roblox (NYSE:RBLX) Price Target Raised to $110.00

Roblox (NYSE:RBLX) had its target price raised by Wedbush from $91.00 to $110.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also issued reports on RBLX. Morgan Stanley reduced their target price on shares of Roblox from $75.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Piper Sandler reiterated an “overweight” rating and issued a $105.00 target price (up from $85.00) on shares of Roblox in a report on Thursday, June 5th. Wells Fargo & Company upped their price target on Roblox from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Roth Mkm increased their price target on Roblox from $72.00 to $74.00 and gave the company a “neutral” rating in a research report on Friday, May 2nd. Finally, Bank of America boosted their price objective on Roblox from $86.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $76.09.

Roblox Stock Up 2.3%

Roblox stock opened at $97.34 on Thursday. The company has a market capitalization of $66.02 billion, a PE ratio of -67.13 and a beta of 1.56. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. Roblox has a fifty-two week low of $34.41 and a fifty-two week high of $98.15. The firm has a 50 day moving average price of $74.96 and a 200 day moving average price of $65.93.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.09. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.14 billion. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The company’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.43) EPS. Research analysts expect that Roblox will post -1.49 earnings per share for the current year.

Insider Buying and Selling at Roblox

In related news, insider Manuel Bronstein sold 68,722 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $80.00, for a total value of $5,497,760.00. Following the transaction, the insider now owns 582,454 shares in the company, valued at $46,596,320. The trade was a 10.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Matthew D. Kaufman sold 6,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $57.99, for a total value of $347,940.00. Following the sale, the insider now directly owns 364,244 shares of the company’s stock, valued at $21,122,509.56. The trade was a 1.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,287,171 shares of company stock worth $438,237,134. 12.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RBLX. Gordian Capital Singapore Pte Ltd lifted its holdings in shares of Roblox by 74.8% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock worth $32,000 after purchasing an additional 240 shares during the period. Larson Financial Group LLC raised its position in Roblox by 819.0% during the 1st 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 last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Roblox in the 1st quarter worth $39,000. Colonial Trust Co SC purchased a new stake in shares of Roblox in the fourth quarter valued at about $41,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of Roblox by 44.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after acquiring an additional 230 shares during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.

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.