Roblox (NYSE:RBLX) Price Target Raised to $54.00 at Piper Sandler

Roblox (NYSE:RBLX) had its target price hoisted by Piper Sandler from $48.00 to $54.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

RBLX has been the subject of a number of other reports. Macquarie boosted their price target on Roblox from $46.00 to $50.00 and gave the company an outperform rating in a report on Monday, August 5th. BTIG Research boosted their price target on Roblox from $47.00 to $51.00 and gave the company a buy rating in a report on Monday, September 9th. Benchmark upped their target price on Roblox from $40.00 to $44.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Roth Mkm upped their target price on Roblox from $35.00 to $42.00 and gave the stock a neutral rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company upped their target price on Roblox from $41.00 to $43.00 and gave the stock an overweight rating in a research note on Monday, July 8th. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $46.14.

Roblox Trading Up 0.5 %

Roblox stock opened at $41.60 on Wednesday. Roblox has a 52 week low of $29.55 and a 52 week high of $48.43. The company has a market capitalization of $24.90 billion, a price-to-earnings ratio of -24.19 and a beta of 1.60. The stock has a 50-day moving average price of $42.72 and a 200 day moving average price of $38.85. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.07. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The company had revenue of $893.50 million during the quarter, compared to the consensus estimate of $897.88 million. During the same period in the previous year, the company posted ($0.46) earnings per share. Roblox’s revenue for the quarter was up 31.2% on a year-over-year basis. Sell-side analysts anticipate that Roblox will post -1.59 EPS for the current year.

Insider Buying and Selling at Roblox

In other Roblox news, Director Gregory Baszucki sold 13,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $40.45, for a total value of $525,850.00. Following the completion of the sale, the director now directly owns 9,708,603 shares in the company, valued at $392,712,991.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Roblox 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 completion of the sale, the chief financial officer now directly owns 374,633 shares in the company, valued at $14,543,253.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory Baszucki sold 13,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $40.45, for a total value of $525,850.00. Following the completion of the sale, the director now owns 9,708,603 shares of the company’s stock, valued at approximately $392,712,991.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 625,673 shares of company stock worth $27,331,806 in the last three months. 22.15% of the stock is owned by corporate insiders.

Institutional Trading of Roblox

Several large investors have recently added to or reduced their stakes in RBLX. PARK CIRCLE Co acquired a new stake in shares of Roblox during the 2nd quarter worth about $30,000. Strategic Financial Concepts LLC acquired a new stake in shares of Roblox during the 2nd quarter worth about $33,000. Gilliland Jeter Wealth Management LLC increased its position in shares of Roblox by 102.4% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after purchasing an additional 506 shares during the last quarter. Washington Trust Advisors Inc. acquired a new stake in shares of Roblox during the 1st quarter worth about $39,000. Finally, GAMMA Investing LLC increased its position in shares of Roblox by 132.8% during the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after purchasing an additional 530 shares during the last quarter. 91.08% of the stock is currently owned by hedge funds and other institutional investors.

About Roblox

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.