Roblox (NYSE:RBLX) Given New $50.00 Price Target at Needham & Company LLC

Roblox (NYSE:RBLX) had its price objective hoisted by investment analysts at Needham & Company LLC from $40.00 to $50.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 28.70% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Roblox from $42.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. JPMorgan Chase & Co. raised shares of Roblox from a “neutral” rating to an “overweight” rating and increased their target price for the company from $41.00 to $48.00 in a report on Tuesday, April 23rd. Roth Mkm increased their target price on shares of Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a report on Monday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Roblox from $55.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, Barclays reduced their target price on shares of Roblox from $46.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.36.

Roblox Stock Down 6.4 %

RBLX opened at $38.85 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 16.04. The stock has a market cap of $22.97 billion, a price-to-earnings ratio of -20.89 and a beta of 1.60. Roblox has a twelve month low of $24.88 and a twelve month high of $47.20. The company’s 50-day moving average price is $37.35 and its two-hundred day moving average price is $38.08.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, May 9th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.10. The firm had revenue of $923.76 million for the quarter, compared to analysts’ expectations of $918.85 million. Roblox had a negative net margin of 39.19% and a negative return on equity of 1,110.40%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.44) earnings per share. As a group, equities analysts expect that Roblox will post -1.66 earnings per share for the current year.

Insiders Place Their Bets

In other Roblox news, CAO Amy Marie Rawlings sold 3,910 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $32.56, for a total value of $127,309.60. Following the completion of the transaction, the chief accounting officer now owns 98,457 shares in the company, valued at $3,205,759.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO David Baszucki sold 166,668 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $40.21, for a total transaction of $6,701,720.28. Following the completion of the transaction, the chief executive officer now owns 142,260 shares in the company, valued at approximately $5,720,274.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amy Marie Rawlings sold 3,910 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $32.56, for a total transaction of $127,309.60. Following the transaction, the chief accounting officer now owns 98,457 shares of the company’s stock, valued at approximately $3,205,759.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 476,889 shares of company stock worth $17,575,955. Company insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates raised its position in shares of Roblox by 65.0% during the 4th quarter. Raymond James & Associates now owns 126,485 shares of the company’s stock valued at $5,783,000 after buying an additional 49,827 shares during the period. Blue Trust Inc. lifted its stake in shares of Roblox by 566.5% in the 4th quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock valued at $49,000 after purchasing an additional 912 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of Roblox by 4.6% during the 4th quarter. Ballentine Partners LLC now owns 27,457 shares of the company’s stock worth $1,255,000 after purchasing an additional 1,203 shares during the period. Arizona State Retirement System increased its position in shares of Roblox by 1.8% during the 4th quarter. Arizona State Retirement System now owns 116,811 shares of the company’s stock worth $5,341,000 after purchasing an additional 2,105 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Roblox by 0.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 164,193 shares of the company’s stock worth $7,623,000 after buying an additional 995 shares during the period. Institutional investors and hedge funds 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.