Piper Sandler Increases Roblox (NYSE:RBLX) Price Target to $65.00

Roblox (NYSE:RBLX) had its price target increased by equities research analysts at Piper Sandler from $54.00 to $65.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 26.36% from the stock’s previous close.

Several other research analysts also recently commented on RBLX. JPMorgan Chase & Co. raised their target price on Roblox from $50.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Macquarie increased their target price on shares of Roblox from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Needham & Company LLC boosted their price target on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday. BTIG Research increased their price objective on Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Barclays boosted their target price on Roblox from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.55.

Roblox Price Performance

Shares of NYSE:RBLX opened at $51.44 on Friday. The company has a 50-day moving average price of $43.67 and a two-hundred day moving average price of $39.35. Roblox has a twelve month low of $29.55 and a twelve month high of $52.65. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. The firm has a market capitalization of $30.79 billion, a PE ratio of -31.37 and a beta of 1.56.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.01. The business had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 1,283.93%. Roblox’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.45) EPS. Equities analysts forecast that Roblox will post -1.58 EPS for the current year.

Insider Transactions at Roblox

In related news, insider Mark Reinstra sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $40.00, for a total transaction of $480,000.00. Following the transaction, the insider now directly owns 342,656 shares in the company, valued at $13,706,240. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the sale, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at $14,543,253.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Reinstra sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $40.00, for a total value of $480,000.00. Following the transaction, the insider now directly owns 342,656 shares of the company’s stock, valued at $13,706,240. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 979,341 shares of company stock worth $43,897,012. Company insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of hedge funds and other institutional investors have recently made changes to their positions in RBLX. V Square Quantitative Management LLC bought a new stake in Roblox in the third quarter valued at $27,000. PARK CIRCLE Co purchased a new position in shares of Roblox during the second quarter valued at about $30,000. GAMMA Investing LLC raised its stake in Roblox by 132.8% in the third quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after buying an additional 530 shares in the last quarter. Gilliland Jeter Wealth Management LLC lifted 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 buying an additional 506 shares during the period. Finally, Washington Trust Advisors Inc. bought a new stake in Roblox during the 1st quarter valued at approximately $39,000. 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.