Benchmark Increases Roblox (NYSE:RBLX) Price Target to $77.00

Roblox (NYSE:RBLX - Free Report) had its target price boosted by Benchmark from $71.00 to $77.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also weighed in on RBLX. The Goldman Sachs Group boosted their target price on shares of Roblox from $55.00 to $63.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Wedbush reissued an "outperform" rating and issued a $83.00 price objective on shares of Roblox in a research note on Thursday, April 24th. Barclays dropped their target price on Roblox from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Friday, February 7th. FBN Securities began coverage on shares of Roblox in a research report on Friday, March 28th. They issued a "sector perform" rating and a $65.00 price objective for the company. Finally, Roth Mkm upped their price objective on shares of Roblox from $54.00 to $70.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Roblox currently has an average rating of "Moderate Buy" and an average target price of $67.27.

Roblox Price Performance

Roblox stock traded up $5.19 during midday trading on Friday, reaching $74.19. 15,007,967 shares of the stock were exchanged, compared to its average volume of 8,006,403. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. Roblox has a 52 week low of $29.55 and a 52 week high of $75.74. The firm has a market cap of $46.63 billion, a PE ratio of -51.17 and a beta of 1.49. The company's fifty day moving average is $59.73 and its 200-day moving average is $58.62.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.09. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.14 billion. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The company's quarterly revenue was up 30.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.43) earnings per share. On average, sell-side analysts forecast that Roblox will post -1.49 EPS for the current year.

Insider Activity at Roblox

In other news, insider Mark Reinstra sold 19,525 shares of the firm's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $65.94, for a total value of $1,287,478.50. Following the completion of the sale, the insider now directly owns 339,206 shares in the company, valued at $22,367,243.64. This trade represents a 5.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO David Baszucki sold 229,167 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $52.48, for a total value of $12,026,684.16. Following the completion of the sale, the chief executive officer now directly owns 221,983 shares of the company's stock, valued at approximately $11,649,667.84. This trade represents a 50.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 764,399 shares of company stock valued at $45,431,661 over the last quarter. 22.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roblox

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Retirement Planning Co of New England Inc. bought a new position in Roblox in the 1st quarter worth about $503,000. Forum Financial Management LP lifted its stake in shares of Roblox by 16.7% in the 1st quarter. Forum Financial Management LP now owns 4,504 shares of the company's stock valued at $263,000 after purchasing an additional 643 shares during the period. Parcion Private Wealth LLC purchased a new stake in shares of Roblox in the 1st quarter worth approximately $303,000. Victory Capital Management Inc. increased its stake in Roblox by 2.5% during the 1st quarter. Victory Capital Management Inc. now owns 164,787 shares of the company's stock valued at $9,605,000 after purchasing an additional 3,971 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of Roblox by 819.0% in the first quarter. Larson Financial Group LLC now owns 579 shares of the company's stock worth $34,000 after purchasing an additional 516 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

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.