Roblox (NYSE:RBLX) Earns Overweight Rating from Piper Sandler

Roblox (NYSE:RBLX - Get Free Report)'s stock had its "overweight" rating reissued by research analysts at Piper Sandler in a research note issued to investors on Thursday,Benzinga reports. They currently have a $105.00 price objective on the stock, up from their prior price objective of $85.00. Piper Sandler's target price would suggest a potential upside of 9.46% from the stock's previous close.

Several other equities analysts also recently commented on the company. Wedbush restated an "outperform" rating and set a $83.00 target price on shares of Roblox in a research report on Thursday, April 24th. Oppenheimer increased their price target on Roblox from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Canaccord Genuity Group increased their price target on Roblox from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. increased their price target on Roblox from $80.00 to $100.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, FBN Securities initiated coverage on Roblox in a research report on Friday, March 28th. They set a "sector perform" rating and a $65.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $74.91.

Roblox Stock Performance

RBLX traded up $1.72 on Thursday, hitting $95.92. 1,769,797 shares of the stock traded hands, compared to its average volume of 7,788,261. Roblox has a 52 week low of $34.41 and a 52 week high of $96.24. 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 firm has a market capitalization of $65.06 billion, a PE ratio of -65.93 and a beta of 1.56. The business has a fifty day moving average price of $70.28 and a two-hundred day moving average price of $63.95.

Roblox (NYSE:RBLX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.09. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates 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 revenue was up 30.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.43) EPS. On average, research analysts predict that Roblox will post -1.49 EPS for the current fiscal year.

Insider Activity

In other news, CEO David Baszucki sold 1,375,002 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $72.19, for a total value of $99,261,394.38. Following the transaction, the chief executive officer now owns 221,983 shares of the company's stock, valued at $16,024,952.77. This represents a 86.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Manuel Bronstein sold 26,798 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $90.20, for a total value of $2,417,179.60. Following the sale, the insider now directly owns 468,486 shares in the company, valued at $42,257,437.20. The trade was a 5.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,354,101 shares of company stock valued at $256,430,887 in the last 90 days. 12.92% of the stock is owned by company insiders.

Institutional Trading of Roblox

Hedge funds have recently added to or reduced their stakes in the business. Gordian Capital Singapore Pte Ltd raised its stake in Roblox by 74.8% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company's stock worth $32,000 after buying an additional 240 shares during the period. Larson Financial Group LLC raised its stake in Roblox by 819.0% during the 1st quarter. Larson Financial Group LLC now owns 579 shares of the company's stock worth $34,000 after buying an additional 516 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Roblox during the 1st quarter worth $39,000. Colonial Trust Co SC acquired a new stake in Roblox during the 4th quarter worth $41,000. Finally, Parkside Financial Bank & Trust raised its stake in Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company's stock worth $43,000 after buying an additional 230 shares during the period. Institutional investors and hedge funds own 94.46% of the company's stock.

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.