Roblox (NYSE:RBLX) Sets New 52-Week High After Analyst Upgrade

Shares of Roblox Co. (NYSE:RBLX) hit a new 52-week high on Monday after Roth Mkm raised their price target on the stock from $54.00 to $70.00. Roth Mkm currently has a neutral rating on the stock. Roblox traded as high as $67.84 and last traded at $67.40, with a volume of 1351056 shares trading hands. The stock had previously closed at $67.07.

Several other research analysts also recently weighed in on the stock. Needham & Company LLC upped their price target on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. HSBC began coverage on Roblox in a research note on Thursday, December 12th. They set a “buy” rating and a $63.00 target price for the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 target price (up from $56.00) on shares of Roblox in a research report on Friday, November 1st. Barclays increased their price target on shares of Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.14.

Insider Activity

In other news, CFO Michael Guthrie sold 10,000 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $49.44, for a total transaction of $494,400.00. Following the completion of the transaction, the chief financial officer now directly owns 352,844 shares in the company, valued at $17,444,607.36. This represents a 2.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark Reinstra sold 24,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $65.89, for a total value of $1,581,360.00. Following the completion of the sale, the insider now directly owns 281,161 shares of the company’s stock, valued at approximately $18,525,698.29. The trade was a 7.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,417,812 shares of company stock worth $80,070,173. Insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several large investors have recently modified their holdings of RBLX. Simon Quick Advisors LLC increased its stake in Roblox by 4.6% during the 4th quarter. Simon Quick Advisors LLC now owns 4,915 shares of the company’s stock valued at $284,000 after purchasing an additional 217 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Roblox by 83.9% in the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after buying an additional 239 shares during the period. Impact Partnership Wealth LLC lifted its position in shares of Roblox by 3.8% during the third quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after acquiring an additional 245 shares in the last quarter. Yousif Capital Management LLC grew its position in shares of Roblox by 3.8% in the fourth quarter. Yousif Capital Management LLC now owns 6,672 shares of the company’s stock valued at $386,000 after purchasing an additional 245 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Roblox by 29.2% during the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $69,000 after buying an additional 271 shares in the last quarter. 94.46% of the stock is owned by institutional investors.

Roblox Trading Up 1.9 %

The firm has a market cap of $41.59 billion, a P/E ratio of -41.74 and a beta of 1.43. The stock has a 50 day moving average of $59.09 and a 200 day moving average of $49.06. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm posted ($0.45) earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts predict that Roblox Co. will post -1.56 EPS for the current year.

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.