Needham & Company LLC Increases Roblox (NYSE:RBLX) Price Target to $72.00

Roblox (NYSE:RBLX) had its price objective boosted by equities research analysts at Needham & Company LLC from $60.00 to $72.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 7.30% from the company’s current price.

Several other research firms also recently weighed in on RBLX. HSBC initiated coverage on Roblox in a report on Thursday, December 12th. They set a “buy” rating and a $63.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on Roblox from $45.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wedbush reiterated an “outperform” rating and set a $49.00 target price on shares of Roblox in a research report on Friday, October 25th. Moffett Nathanson lowered Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price target on the stock. in a research report on Friday. Finally, Raymond James restated a “strong-buy” rating and set a $60.00 price objective on shares of Roblox in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $61.38.

Roblox Stock Performance

NYSE:RBLX opened at $67.10 on Friday. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $75.74. The company has a market cap of $40.77 billion, a price-to-earnings ratio of -40.92 and a beta of 1.46. The stock has a fifty day moving average price of $62.14 and a 200-day moving average price of $50.44.

Roblox (NYSE:RBLX) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.13. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. As a group, equities analysts anticipate that Roblox will post -1.56 EPS for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, CAO Amy Marie Rawlings sold 6,054 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $51.43, for a total value of $311,357.22. Following the completion of the transaction, the chief accounting officer now owns 85,008 shares in the company, valued at $4,371,961.44. This represents a 6.65 % 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, CEO David Baszucki sold 138,555 shares of Roblox stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $71.62, for a total value of $9,923,309.10. Following the sale, the chief executive officer now owns 129,301 shares in the company, valued at $9,260,537.62. The trade was a 51.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,306,335 shares of company stock valued at $77,348,316. 22.15% of the stock is owned by insiders.

Institutional Investors Weigh In On Roblox

Several large investors have recently modified their holdings of RBLX. Truist Financial Corp bought a new stake in shares of Roblox in the second quarter valued at approximately $559,000. Cetera Investment Advisers grew its position in Roblox by 4.4% during the second quarter. Cetera Investment Advisers now owns 41,332 shares of the company’s stock worth $1,538,000 after buying an additional 1,748 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Roblox in the 2nd quarter valued at about $1,105,000. GAMMA Investing LLC raised its stake in Roblox by 132.8% in the third quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after purchasing an additional 530 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC bought a new stake in Roblox during the third quarter valued at approximately $235,000. Hedge funds and other institutional investors 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.