The Goldman Sachs Group Forecasts Strong Price Appreciation for Roblox (NYSE:RBLX) Stock

Roblox (NYSE:RBLX) had its price target raised by stock analysts at The Goldman Sachs Group from $45.00 to $55.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 6.92% from the company’s current price.

Other research analysts also recently issued reports about the stock. Wedbush reissued an “outperform” rating and set a $49.00 price target on shares of Roblox in a research note on Friday, October 25th. Wells Fargo & Company lifted their target price on shares of Roblox from $46.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Citigroup upped their price target on shares of Roblox from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Macquarie lifted their price objective on Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Roth Mkm boosted their target price on Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Roblox presently has an average rating of “Moderate Buy” and a consensus target price of $52.55.

Roblox Stock Down 0.5 %

RBLX opened at $51.44 on Friday. The business’s fifty day simple moving average is $43.67 and its 200 day simple moving average is $39.35. Roblox has a 52 week low of $29.55 and a 52 week high of $52.65. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. The stock has a market cap of $30.79 billion, a PE ratio of -31.37 and a beta of 1.56.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.01. The firm had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative return on equity of 1,283.93% and a negative net margin of 30.90%. The company’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.45) EPS. As a group, research analysts expect that Roblox will post -1.58 earnings per share for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the sale, the chief financial officer now directly owns 374,633 shares in the company, valued at $14,543,253.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the sale, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at $14,543,253.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amy Marie Rawlings sold 4,933 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $199,046.55. Following the transaction, the chief accounting officer now directly owns 99,617 shares of the company’s stock, valued at $4,019,545.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 979,341 shares of company stock worth $43,897,012 over the last 90 days. 22.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roblox

Hedge funds have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale lifted its holdings in shares of Roblox by 2.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock valued at $2,318,000 after purchasing an additional 1,419 shares during the last quarter. Dragoneer Investment Group LLC increased its position in Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after buying an additional 2,488,044 shares in the last quarter. Itau Unibanco Holding S.A. raised its stake in Roblox by 62.0% during the second quarter. Itau Unibanco Holding S.A. now owns 37,482 shares of the company’s stock valued at $1,395,000 after buying an additional 14,348 shares during the last quarter. Sei Investments Co. boosted its holdings in Roblox by 18.3% in the first quarter. Sei Investments Co. now owns 288,112 shares of the company’s stock worth $11,000,000 after acquiring an additional 44,557 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Roblox by 319.6% in the first quarter. Acadian Asset Management LLC now owns 28,271 shares of the company’s stock worth $1,075,000 after acquiring an additional 21,533 shares during the last quarter. Institutional investors own 91.08% 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.