Roblox (NYSE:RBLX) Price Target Raised to $55.00

Roblox (NYSE:RBLX) had its price target raised by analysts at Needham & Company LLC from $50.00 to $55.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 10.35% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. B. Riley Financial lowered their price target on shares of Roblox from $80.00 to $45.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Arete Research set a $95.00 target price on shares of Roblox and gave the stock a “buy” rating in a research report on Monday, June 29th. DA Davidson set a $40.00 target price on shares of Roblox in a research note on Friday, July 31st. Canaccord Genuity Group set a $58.00 price target on Roblox in a report on Friday, July 31st. Finally, BMO Capital Markets cut shares of Roblox from an “outperform” rating to a “market perform” rating and set a $45.00 target price on the stock. in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $60.79.

Roblox Stock Down 2.7%

Shares of NYSE:RBLX opened at $49.84 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 7.82. The company has a market capitalization of $33.39 billion, a P/E ratio of -34.85 and a beta of 1.47. Roblox has a 52-week low of $33.88 and a 52-week high of $142.00. The stock’s fifty day simple moving average is $43.47 and its 200-day simple moving average is $49.16.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, July 30th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.08. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%.The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.41) EPS. As a group, equities research analysts forecast that Roblox will post -1.39 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In other news, Director Gregory Baszucki sold 16,666 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $57.69, for a total transaction of $961,461.54. Following the completion of the transaction, the director directly owned 1,277,835 shares in the company, valued at approximately $73,718,301.15. This represents a 1.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Matthew D. Kaufman sold 14,904 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $37.96, for a total transaction of $565,755.84. Following the sale, the insider directly owned 335,060 shares of the company’s stock, valued at $12,718,877.60. The trade was a 4.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 185,236 shares of company stock valued at $7,538,642 in the last three months. 10.05% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RBLX. Norges Bank bought a new stake in Roblox in the fourth quarter valued at $435,424,000. Amundi grew its position in shares of Roblox by 83.7% during the first quarter. Amundi now owns 5,774,151 shares of the company’s stock worth $326,586,000 after acquiring an additional 2,631,074 shares during the last quarter. Capital International Investors increased its holdings in shares of Roblox by 7.3% in the 4th quarter. Capital International Investors now owns 31,953,301 shares of the company’s stock worth $2,589,282,000 after acquiring an additional 2,184,439 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Roblox by 99.5% in the 4th quarter. BNP Paribas Financial Markets now owns 3,377,673 shares of the company’s stock worth $273,693,000 after acquiring an additional 1,684,411 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Roblox by 89.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,893,790 shares of the company’s stock valued at $102,984,000 after purchasing an additional 891,634 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors.

About Roblox

Roblox Corporation develops and operates Roblox, an online platform where users can create, share and play interactive experiences. The platform supports a broad range of user-generated content, including games, social spaces, educational activities and entertainment experiences, and is accessible across computers, mobile devices, consoles and other supported platforms.

Roblox provides development tools through Roblox Studio, while its virtual economy uses Robux, a digital currency that users can purchase and spend on virtual items, avatar customization and other platform content.