Brokerages Set Roblox Co. (NYSE:RBLX) Target Price at $64.50

Shares of Roblox Co. (NYSE:RBLX) have been given a consensus rating of “Moderate Buy” by the twenty-six research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, seventeen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $67.27.

A number of equities research analysts have issued reports on the stock. Barclays increased their target price on shares of Roblox from $46.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday. Canaccord Genuity Group lifted their target price on Roblox from $80.00 to $84.00 and gave the company a “buy” rating in a report on Friday. Wedbush restated an “outperform” rating and set a $83.00 price target on shares of Roblox in a report on Thursday, April 24th. FBN Securities began coverage on Roblox in a research note on Friday, March 28th. They issued a “sector perform” rating and a $65.00 price objective for the company. Finally, Citigroup upped their target price on shares of Roblox from $78.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday.

Insider Activity

In other news, CFO Michael Guthrie sold 26,154 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $65.94, for a total transaction of $1,724,594.76. Following the transaction, the chief financial officer now directly owns 417,079 shares in the company, valued at $27,502,189.26. The trade was a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Reinstra sold 19,525 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $65.94, for a total transaction of $1,287,478.50. Following the transaction, the insider now directly owns 339,206 shares of the company’s stock, valued at $22,367,243.64. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 764,399 shares of company stock valued at $45,431,661. Company insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of large investors have recently modified their holdings of the business. MetLife Investment Management LLC raised its position in Roblox by 0.5% in the fourth quarter. MetLife Investment Management LLC now owns 32,374 shares of the company’s stock worth $1,873,000 after acquiring an additional 161 shares in the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Roblox by 1.2% in the first quarter. SBI Securities Co. Ltd. now owns 13,295 shares of the company’s stock valued at $775,000 after purchasing an additional 163 shares during the period. Rakuten Securities Inc. boosted its holdings in Roblox by 25.6% during the fourth quarter. Rakuten Securities Inc. now owns 958 shares of the company’s stock worth $55,000 after buying an additional 195 shares in the last quarter. Ballentine Partners LLC grew its position in Roblox by 0.3% during the first quarter. Ballentine Partners LLC now owns 77,513 shares of the company’s stock worth $4,518,000 after buying an additional 198 shares during the period. Finally, Simon Quick Advisors LLC increased its holdings in Roblox by 4.6% in the fourth quarter. Simon Quick Advisors LLC now owns 4,915 shares of the company’s stock valued at $284,000 after buying an additional 217 shares in the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Roblox Stock Up 7.5 %

Shares of NYSE RBLX opened at $74.19 on Friday. Roblox has a 52-week low of $29.55 and a 52-week high of $75.74. The business’s 50 day moving average is $59.73 and its two-hundred day moving average is $58.37. The firm has a market cap of $46.63 billion, a price-to-earnings ratio of -51.17 and a beta of 1.49. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.09. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. Roblox’s revenue for the quarter was up 30.6% on a year-over-year basis. During the same period last year, the business posted ($0.43) EPS. Research analysts predict that Roblox will post -1.49 EPS for the current year.

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.