The Goldman Sachs Group Issues Positive Forecast for Roblox (NYSE:RBLX) Stock Price

Roblox (NYSE:RBLX) had its price objective raised by The Goldman Sachs Group from $45.00 to $55.00 in a report released on Friday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other equities research analysts have also issued reports on RBLX. BTIG Research lifted their price target on shares of Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Friday. Needham & Company LLC boosted their price objective on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday. Wedbush reaffirmed an “outperform” rating and issued a $49.00 target price on shares of Roblox in a report on Friday, October 25th. Wolfe Research started coverage on shares of Roblox in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Wells Fargo & Company upped their target price on shares of Roblox from $46.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.55.

Roblox Stock Down 0.5 %

Shares of NYSE:RBLX traded down $0.28 during midday trading on Friday, reaching $51.44. 12,925,147 shares of the company were exchanged, compared to its average volume of 9,062,251. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $52.65. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. The stock has a fifty day simple moving average of $43.67 and a two-hundred day simple moving average of $39.34.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.01. Roblox had a negative net margin of 30.90% and a negative return on equity of 1,283.93%. The business had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the business posted ($0.45) earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts predict that Roblox will post -1.58 EPS for the current year.

Insider Transactions at Roblox

In other news, CAO Amy Marie Rawlings sold 4,933 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total transaction of $199,046.55. Following the completion of the sale, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at approximately $4,019,545.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Amy Marie Rawlings sold 4,933 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the transaction, the chief accounting officer now owns 99,617 shares of the company’s stock, valued at $4,019,545.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Anthony P. Lee sold 200,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the transaction, the director now directly owns 4,707,579 shares of the company’s stock, valued at $236,932,451.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 979,341 shares of company stock valued at $43,897,012. Company insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Large investors have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in Roblox in the third quarter worth $27,000. PARK CIRCLE Co acquired a new stake in Roblox in the second quarter worth $30,000. Strategic Financial Concepts LLC acquired a new stake in Roblox in the second quarter worth $33,000. Gilliland Jeter Wealth Management LLC grew its holdings in Roblox by 102.4% in the second 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 period. Finally, Washington Trust Advisors Inc. acquired a new stake in Roblox in the first quarter worth $39,000. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.