Roblox (NYSE:RBLX) Price Target Increased to $44.00 by Analysts at Benchmark

Roblox (NYSE:RBLX) had its price target lifted by Benchmark from $40.00 to $44.00 in a research note published on Friday morning, Benzinga reports. Benchmark currently has a buy rating on the stock.

Several other research firms also recently issued reports on RBLX. Stifel Nicolaus reissued a buy rating and issued a $53.00 price target on shares of Roblox in a research report on Monday, April 22nd. Moffett Nathanson raised shares of Roblox from a sell rating to a neutral rating and reduced their price target for the company from $31.00 to $26.00 in a research report on Friday, May 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Roblox from $55.00 to $40.00 and set a buy rating for the company in a research report on Friday, May 10th. Needham & Company LLC lifted their price target on shares of Roblox from $40.00 to $50.00 and gave the company a buy rating in a research report on Friday. Finally, Macquarie assumed coverage on Roblox in a research note on Friday, June 14th. They set an outperform rating and a $46.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Roblox currently has an average rating of Moderate Buy and an average target price of $44.50.

Roblox Trading Up 2.3 %

Shares of RBLX stock traded up $0.83 during trading hours on Friday, hitting $37.36. 2,501,757 shares of the company were exchanged, compared to its average volume of 7,410,778. The firm has a market cap of $22.09 billion, a P/E ratio of -19.78 and a beta of 1.60. Roblox has a fifty-two week low of $24.88 and a fifty-two week high of $47.20. The company has a debt-to-equity ratio of 16.04, a quick ratio of 1.07 and a current ratio of 1.07. The company has a 50 day simple moving average of $37.56 and a two-hundred day simple moving average of $38.04.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.07. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,285.39%. The company had revenue of $893.50 million during the quarter, compared to the consensus estimate of $897.88 million. During the same quarter last year, the firm posted ($0.46) EPS. The company’s quarterly revenue was up 31.2% on a year-over-year basis. Equities analysts anticipate that Roblox will post -1.66 EPS for the current year.

Insider Buying and Selling at Roblox

In other Roblox news, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $40.45, for a total transaction of $525,850.00. Following the completion of the transaction, the director now owns 9,708,603 shares of the company’s stock, valued at approximately $392,712,991.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Arvind Chakravarthy sold 18,165 shares of the business’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 $591,452.40. Following the completion of the transaction, the insider now owns 322,966 shares of the company’s stock, valued at $10,515,772.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory Baszucki sold 13,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $392,712,991.35. The disclosure for this sale can be found here. Insiders sold 476,889 shares of company stock valued at $17,575,955 in the last quarter. 22.15% of the stock is currently owned by corporate insiders.

Institutional Trading of Roblox

Several hedge funds and other institutional investors have recently bought and sold shares of RBLX. Raymond James & Associates boosted its stake in Roblox by 65.0% in the fourth quarter. Raymond James & Associates now owns 126,485 shares of the company’s stock worth $5,783,000 after buying an additional 49,827 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Roblox by 566.5% during the fourth quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock valued at $49,000 after acquiring an additional 912 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Roblox by 4.6% during the fourth quarter. Ballentine Partners LLC now owns 27,457 shares of the company’s stock valued at $1,255,000 after acquiring an additional 1,203 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Roblox by 1.8% during the fourth quarter. Arizona State Retirement System now owns 116,811 shares of the company’s stock valued at $5,341,000 after acquiring an additional 2,105 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Roblox by 0.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 164,193 shares of the company’s stock valued at $7,623,000 after acquiring an additional 995 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.