Bank of America Boosts Roblox (NYSE:RBLX) Price Target to $103.00

Roblox (NYSE:RBLX - Free Report) had its price objective lifted by Bank of America from $86.00 to $103.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on RBLX. Canaccord Genuity Group raised their target price on Roblox from $80.00 to $84.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Benchmark raised their price objective on shares of Roblox from $71.00 to $77.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Macquarie upped their target price on shares of Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. FBN Securities started coverage on shares of Roblox in a research report on Friday, March 28th. They issued a "sector perform" rating and a $65.00 price target for the company. Finally, Roth Mkm boosted their price target on shares of Roblox from $72.00 to $74.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Roblox currently has an average rating of "Moderate Buy" and a consensus target price of $74.91.

Roblox Trading Up 1.7%

NYSE:RBLX traded up $1.60 during trading hours on Thursday, hitting $95.80. The company had a trading volume of 14,094,905 shares, compared to its average volume of 7,859,275. The company has a 50-day moving average of $70.97 and a 200 day moving average of $64.34. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 4.82. The company has a market cap of $64.98 billion, a P/E ratio of -66.07 and a beta of 1.56. Roblox has a 1 year low of $34.41 and a 1 year high of $96.28.

Roblox (NYSE:RBLX - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The firm's quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.43) earnings per share. Sell-side analysts expect that Roblox will post -1.49 earnings per share for the current year.

Insider Transactions at Roblox

In related news, insider Manuel Bronstein sold 26,798 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $90.20, for a total value of $2,417,179.60. Following the completion of the sale, the insider now owns 468,486 shares in the company, valued at $42,257,437.20. This represents a 5.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher Carvalho sold 12,985 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $89.25, for a total transaction of $1,158,911.25. Following the transaction, the director now directly owns 986,913 shares in the company, valued at $88,081,985.25. The trade was a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,354,101 shares of company stock worth $256,430,887. Corporate insiders own 12.92% of the company's stock.

Institutional Trading of Roblox

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Silicon Valley Capital Partners increased its holdings in shares of Roblox by 3,010.0% in the fourth quarter. Silicon Valley Capital Partners now owns 69,104 shares of the company's stock valued at $3,998,000 after purchasing an additional 66,882 shares during the period. V Square Quantitative Management LLC grew its position in Roblox by 320.0% in the 4th quarter. V Square Quantitative Management LLC now owns 2,587 shares of the company's stock valued at $149,000 after buying an additional 1,971 shares during the last quarter. Amundi raised its position in Roblox by 111.4% during the 4th quarter. Amundi now owns 3,191,137 shares of the company's stock worth $198,010,000 after buying an additional 1,681,263 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Roblox by 101.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 704,491 shares of the company's stock worth $40,762,000 after acquiring an additional 355,270 shares during the period. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in shares of Roblox in the fourth quarter valued at about $278,000. 94.46% of the stock is owned by hedge funds and other institutional investors.

Roblox Company Profile

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.