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Roblox (NYSE:RBLX) Price Target Raised to $138.00

Roblox logo with Consumer Discretionary background

Roblox (NYSE:RBLX - Get Free Report) had its price target boosted by equities research analysts at Piper Sandler from $105.00 to $138.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's target price points to a potential upside of 16.38% from the company's current price.

Several other analysts have also recently issued reports on the stock. Macquarie increased their price target on shares of Roblox from $76.00 to $80.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. BTIG Research raised their target price on shares of Roblox from $73.00 to $124.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. The Goldman Sachs Group raised their target price on shares of Roblox from $63.00 to $80.00 and gave the company a "neutral" rating in a report on Wednesday, May 14th. Raymond James Financial cut shares of Roblox from a "strong-buy" rating to an "outperform" rating and raised their target price for the company from $81.00 to $130.00 in a report on Wednesday. Finally, Morgan Stanley reduced their target price on shares of Roblox from $75.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Roblox presently has an average rating of "Moderate Buy" and a consensus price target of $94.50.

Check Out Our Latest Report on Roblox

Roblox Price Performance

NYSE:RBLX traded down $0.06 during trading hours on Thursday, reaching $118.57. 3,967,003 shares of the company were exchanged, compared to its average volume of 8,671,636. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.39. The stock's 50-day moving average is $99.18 and its 200-day moving average is $75.59. The firm has a market cap of $80.43 billion, a PE ratio of -88.56 and a beta of 1.60. Roblox has a twelve month low of $35.30 and a twelve month high of $127.99.

Roblox (NYSE:RBLX - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.41) by $0.09. Roblox had a negative net margin of 22.94% and a negative return on equity of 442.68%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm earned ($0.43) earnings per share. The company's revenue for the quarter was up 30.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Roblox will post -1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO David Baszucki sold 1,375,002 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $72.19, for a total transaction of $99,261,394.38. Following the completion of the transaction, the chief executive officer directly owned 221,983 shares in the company, valued at approximately $16,024,952.77. This represents a 86.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 6,651,690 shares of company stock valued at $593,440,562. 12.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roblox

Several institutional investors and hedge funds have recently made changes to their positions in RBLX. Thrivent Financial for Lutherans acquired a new stake in shares of Roblox during the 4th quarter valued at approximately $229,000. Teacher Retirement System of Texas acquired a new stake in Roblox in the fourth quarter worth $259,000. Sei Investments Co. increased its position in Roblox by 97.5% in the fourth quarter. Sei Investments Co. now owns 256,120 shares of the company's stock worth $14,819,000 after buying an additional 126,413 shares during the period. Korea Investment CORP increased its position in Roblox by 372.6% in the fourth quarter. Korea Investment CORP now owns 312,006 shares of the company's stock worth $18,053,000 after buying an additional 245,982 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Roblox by 8.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 338,874 shares of the company's stock worth $20,492,000 after buying an additional 26,024 shares during the period. 94.46% of the stock is owned by institutional investors and hedge funds.

Roblox Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Roblox (NYSE:RBLX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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