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

Roblox (NYSE:RBLX)‘s stock had its “overweight” rating reaffirmed by equities researchers at Piper Sandler in a report issued on Tuesday,Benzinga reports. They presently have a $72.00 price objective on the stock, up from their prior price objective of $65.00. Piper Sandler’s price target indicates a potential upside of 2.86% from the stock’s previous close.

A number of other research firms have also recently issued reports on RBLX. Deutsche Bank Aktiengesellschaft upped their price objective on Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 4th. BTIG Research upped their target price on Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Needham & Company LLC lifted their price target on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Roth Mkm upped their price objective on shares of Roblox from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Wedbush reaffirmed an “outperform” rating and set a $49.00 target price on shares of Roblox in a report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.14.

Roblox Trading Up 2.3 %

Shares of Roblox stock opened at $70.00 on Tuesday. The company has a 50 day simple moving average of $59.46 and a two-hundred day simple moving average of $49.21. The firm has a market cap of $42.53 billion, a PE ratio of -42.68 and a beta of 1.43. Roblox has a 1 year low of $29.55 and a 1 year high of $70.68. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.02. The company had revenue of $919.00 million during the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.45) earnings per share. Analysts expect that Roblox will post -1.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Amy Marie Rawlings sold 2,186 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $52.90, for a total value of $115,639.40. Following the completion of the transaction, the chief accounting officer now owns 91,062 shares of the company’s stock, valued at approximately $4,817,179.80. This represents a 2.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Arvind Chakravarthy sold 14,269 shares of Roblox stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $49.43, for a total value of $705,316.67. Following the sale, the insider now owns 244,803 shares in the company, valued at $12,100,612.29. This represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,207,812 shares of company stock worth $69,509,773. 22.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. ValueAct Holdings L.P. grew its holdings in Roblox by 340.7% in the third quarter. ValueAct Holdings L.P. now owns 10,135,921 shares of the company’s stock worth $448,616,000 after purchasing an additional 7,835,921 shares during the period. FMR LLC boosted its position in shares of Roblox by 24.5% in the 3rd quarter. FMR LLC now owns 20,942,691 shares of the company’s stock worth $926,924,000 after purchasing an additional 4,115,286 shares in the last quarter. Whale Rock Capital Management LLC purchased a new stake in shares of Roblox in the 3rd quarter worth approximately $107,491,000. Greenvale Capital LLP bought a new position in Roblox during the 2nd quarter valued at approximately $89,304,000. Finally, Two Sigma Advisers LP raised its stake in Roblox by 32.9% during the third quarter. Two Sigma Advisers LP now owns 5,864,800 shares of the company’s stock valued at $259,576,000 after buying an additional 1,452,900 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

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.