Brokerages Set Roblox Co. (NYSE:RBLX) PT at $55.67

Roblox Co. (NYSE:RBLX) has been assigned an average recommendation of “Moderate Buy” from the twenty-three research firms that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $55.67.

A number of research analysts recently commented on RBLX shares. Citigroup boosted their price target on Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Wedbush restated an “outperform” rating and issued a $49.00 target price on shares of Roblox in a research report on Friday, October 25th. Benchmark increased their price target on shares of Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Morgan Stanley upgraded shares of Roblox from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $38.00 to $65.00 in a research report on Monday, November 4th. Finally, Macquarie upped their target price on Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st.

Insider Buying and Selling

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $41.50, for a total transaction of $1,245,000.00. Following the completion of the sale, the chief financial officer now owns 352,844 shares in the company, valued at approximately $14,643,026. The trade was a 7.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Manuel Bronstein sold 44,888 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $60.01, for a total transaction of $2,693,728.88. Following the completion of the transaction, the insider now directly owns 573,266 shares in the company, valued at $34,401,692.66. This trade represents a 7.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,260,601 shares of company stock valued at $65,433,735 over the last 90 days. Company insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in Roblox by 5.4% during the second quarter. Bank of New York Mellon Corp now owns 2,018,198 shares of the company’s stock worth $75,097,000 after buying an additional 102,897 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Roblox by 56,711.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 626,059 shares of the company’s stock valued at $23,296,000 after purchasing an additional 624,957 shares in the last quarter. ARK Investment Management LLC boosted its holdings in Roblox by 12.9% during the second quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock worth $496,338,000 after purchasing an additional 1,519,591 shares during the last quarter. Trajan Wealth LLC grew its position in Roblox by 4.6% in the 2nd quarter. Trajan Wealth LLC now owns 294,521 shares of the company’s stock worth $10,959,000 after purchasing an additional 12,918 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Roblox in the 2nd quarter valued at about $188,000. Institutional investors and hedge funds own 94.46% of the company’s stock.

Roblox Price Performance

NYSE:RBLX opened at $59.56 on Friday. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $36.19 billion, a price-to-earnings ratio of -36.32 and a beta of 1.50. Roblox has a 52 week low of $29.55 and a 52 week high of $61.77. The firm’s 50-day simple moving average is $51.12 and its 200 day simple moving average is $44.37.

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