Roth Mkm Increases Roblox (NYSE:RBLX) Price Target to $70.00

Roblox (NYSE:RBLX) had its price objective hoisted by investment analysts at Roth Mkm from $54.00 to $70.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Roth Mkm’s price objective would suggest a potential upside of 2.25% from the company’s previous close.

Several other equities research analysts also recently commented on RBLX. JPMorgan Chase & Co. upped their price objective on shares of Roblox from $62.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Citigroup raised their price objective on shares of Roblox from $53.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on shares of Roblox from $58.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Wedbush restated an “outperform” rating and set a $49.00 target price on shares of Roblox in a research report on Friday, October 25th. Finally, Macquarie lifted their price target on Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.14.

Roblox Stock Up 1.9 %

Roblox stock opened at $68.46 on Monday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. The company has a market capitalization of $41.59 billion, a P/E ratio of -41.74 and a beta of 1.43. The firm has a 50 day moving average price of $59.09 and a 200-day moving average price of $49.06. Roblox has a twelve month low of $29.55 and a twelve month high of $69.12.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The business had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business posted ($0.45) earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities analysts predict that Roblox will post -1.56 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Michael Guthrie sold 10,000 shares of Roblox stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $49.44, for a total value of $494,400.00. Following the transaction, the chief financial officer now owns 352,844 shares in the company, valued at $17,444,607.36. This trade represents a 2.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.90, for a total transaction of $115,639.40. Following the sale, the chief accounting officer now owns 91,062 shares of the company’s stock, valued at approximately $4,817,179.80. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,417,812 shares of company stock valued at $80,070,173 over the last 90 days. Insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC lifted its position in Roblox by 24.5% in the third quarter. FMR LLC now owns 20,942,691 shares of the company’s stock valued at $926,924,000 after purchasing an additional 4,115,286 shares during the last quarter. State Street Corp increased its stake in shares of Roblox by 2.3% in the third quarter. State Street Corp now owns 10,855,890 shares of the company’s stock worth $480,482,000 after buying an additional 240,565 shares during the period. ValueAct Holdings L.P. raised its holdings in Roblox by 340.7% during the 3rd quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock valued at $448,616,000 after buying an additional 7,835,921 shares during the last quarter. Geode Capital Management LLC boosted its position in Roblox by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 8,332,563 shares of the company’s stock valued at $368,003,000 after buying an additional 408,915 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in Roblox by 32.9% in the 3rd quarter. Two Sigma Advisers LP now owns 5,864,800 shares of the company’s stock worth $259,576,000 after acquiring an additional 1,452,900 shares during the last quarter. Institutional investors own 94.46% 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.