Roblox's (RBLX) "Overweight" Rating Reiterated at Piper Sandler

Roblox (NYSE:RBLX - Get Free Report)'s stock had its "overweight" rating reaffirmed by investment analysts at Piper Sandler in a report released on Friday, Benzinga reports. They currently have a $40.00 price objective on the stock, down from their prior price objective of $56.00. Piper Sandler's price target suggests a potential upside of 27.23% from the company's current price.

A number of other analysts also recently weighed in on the company. The Goldman Sachs Group upgraded Roblox from a "sell" rating to a "neutral" rating and lifted their price target for the company from $35.00 to $48.00 in a research note on Thursday, February 8th. Stifel Nicolaus reaffirmed a "buy" rating and set a $53.00 price objective on shares of Roblox in a report on Monday, April 22nd. Wedbush reduced their price objective on Roblox from $56.00 to $46.00 and set an "outperform" rating for the company in a report on Friday. JPMorgan Chase & Co. raised Roblox from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $41.00 to $48.00 in a report on Tuesday, April 23rd. Finally, BMO Capital Markets lifted their price objective on Roblox from $55.00 to $57.00 and gave the stock an "outperform" rating in a report on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Roblox presently has an average rating of "Moderate Buy" and a consensus target price of $43.24.

Roblox Trading Up 3.4 %

Shares of RBLX stock traded up $1.02 during midday trading on Friday, hitting $31.44. The company had a trading volume of 21,383,864 shares, compared to its average volume of 6,153,465. The company's 50 day simple moving average is $37.81 and its 200 day simple moving average is $39.39. Roblox has a 52-week low of $24.88 and a 52-week high of $47.20. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 14.64.

Roblox (NYSE:RBLX - Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.43) earnings per share for the quarter, beating analysts' consensus estimates of ($0.53) by $0.10. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The firm had revenue of $923.76 million for the quarter, compared to the consensus estimate of $918.85 million. During the same period in the previous year, the business earned ($0.44) earnings per share. The company's revenue for the quarter was up 19.4% compared to the same quarter last year. As a group, equities analysts anticipate that Roblox will post -2.09 earnings per share for the current year.

Insider Activity at Roblox

In related news, CAO Amy Marie Rawlings sold 3,777 shares of the firm's stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total transaction of $153,497.28. Following the transaction, the chief accounting officer now owns 96,125 shares of the company's stock, valued at $3,906,520. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Amy Marie Rawlings sold 3,777 shares of Roblox stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total value of $153,497.28. Following the transaction, the chief accounting officer now owns 96,125 shares of the company's stock, valued at $3,906,520. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David Baszucki sold 200,000 shares of Roblox stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $44.09, for a total transaction of $8,818,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1 shares in the company, valued at approximately $44.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 512,374 shares of company stock valued at $20,809,338. 22.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roblox

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Roblox in the 4th quarter valued at $25,000. Washington Trust Advisors Inc. acquired a new stake in Roblox in the 1st quarter valued at about $39,000. Blue Trust Inc. increased its holdings in shares of Roblox by 566.5% in the fourth quarter. Blue Trust Inc. now owns 1,073 shares of the company's stock valued at $49,000 after purchasing an additional 912 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in Roblox in the 1st quarter worth approximately $52,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Roblox by 306.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,483 shares of the company's stock valued at $56,000 after buying an additional 1,118 shares during the last quarter. Institutional investors and hedge funds 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.