Roblox (NYSE:RBLX) Receives Overweight Rating from Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Roblox (NYSE:RBLX) in a report issued on Tuesday morning,Benzinga reports. Piper Sandler currently has a $72.00 target price on the stock, up from their previous target price of $65.00.

RBLX has been the subject of several other reports. CICC Research started coverage on shares of Roblox in a research report on Tuesday, January 14th. They set an “outperform” rating for the company. 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 report on Friday, January 10th. Barclays lifted their target price on Roblox from $40.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Benchmark upped their price target on Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC lifted their price objective on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.14.

Roblox Trading Up 1.9 %

Shares of RBLX stock opened at $68.46 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox has a 12-month low of $29.55 and a 12-month high of $69.12. The stock has a market capitalization of $41.59 billion, a P/E ratio of -41.74 and a beta of 1.43. The firm’s 50 day moving average is $59.09 and its 200 day moving average is $49.06.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. The company had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. Roblox’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.45) earnings per share. Research analysts expect that Roblox will post -1.56 earnings per share for the current year.

Insider Buying and Selling at Roblox

In other news, CAO Amy Marie Rawlings sold 2,186 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $52.90, for a total transaction of $115,639.40. Following the transaction, the chief accounting officer now directly owns 91,062 shares of the company’s stock, valued at approximately $4,817,179.80. This trade represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Arvind Chakravarthy sold 14,269 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $49.43, for a total value of $705,316.67. Following the completion of the sale, the insider now owns 244,803 shares of the company’s stock, valued at $12,100,612.29. The trade was a 5.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,417,812 shares of company stock valued at $80,070,173 in the last quarter. 22.15% of the stock is owned by insiders.

Institutional Trading of Roblox

Institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in Roblox by 17.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 64,557 shares of the company’s stock valued at $2,402,000 after purchasing an additional 9,665 shares during the period. ProShare Advisors LLC boosted its stake in shares of Roblox by 22.0% during the second quarter. ProShare Advisors LLC now owns 6,697 shares of the company’s stock valued at $249,000 after purchasing an additional 1,206 shares in the last quarter. Toronto Dominion Bank increased its holdings in Roblox by 9.0% during the second quarter. Toronto Dominion Bank now owns 44,759 shares of the company’s stock valued at $1,665,000 after buying an additional 3,696 shares during the period. AXA S.A. lifted its holdings in Roblox by 4.2% during the second quarter. AXA S.A. now owns 49,374 shares of the company’s stock worth $1,837,000 after buying an additional 1,997 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Roblox by 31.8% in the 2nd quarter. AQR Capital Management LLC now owns 217,588 shares of the company’s stock valued at $8,083,000 after acquiring an additional 52,534 shares during the period. 94.46% of the stock is currently owned by 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.