The Goldman Sachs Group Boosts Roblox (NYSE:RBLX) Price Target to $55.00

Roblox (NYSE:RBLX) had its price target lifted by The Goldman Sachs Group from $45.00 to $55.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts also recently weighed in on the company. Wedbush restated an “outperform” rating and set a $49.00 target price on shares of Roblox in a research note on Friday, October 25th. Macquarie raised their price objective on Roblox from $50.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday. Jefferies Financial Group assumed coverage on Roblox in a research report on Thursday, July 11th. They issued a “hold” rating and a $42.00 target price on the stock. Citigroup raised their price target on shares of Roblox from $46.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Benchmark upped their price target on shares of Roblox from $44.00 to $60.00 and gave the company a “buy” rating in a report on Friday. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.55.

Roblox Stock Performance

Roblox stock opened at $51.44 on Friday. The firm has a market capitalization of $30.79 billion, a PE ratio of -31.37 and a beta of 1.56. Roblox has a one year low of $29.55 and a one year high of $52.65. The stock’s 50 day moving average price is $43.67 and its 200 day moving average price is $39.38. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.01. The business had revenue of $919.00 million during the quarter, compared to the consensus estimate of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 1,283.93%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.45) earnings per share. As a group, sell-side analysts expect that Roblox will post -1.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the completion of the transaction, the chief financial officer now owns 374,633 shares in the company, valued at approximately $14,543,253.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Amy Marie Rawlings sold 4,933 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total transaction of $199,046.55. Following the transaction, the chief accounting officer now directly owns 99,617 shares of the company’s stock, valued at approximately $4,019,545.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the completion of the sale, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at $14,543,253.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 979,341 shares of company stock valued at $43,897,012 over the last three months. Company insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Roblox by 10.4% during the first quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock valued at $1,950,322,000 after acquiring an additional 4,818,022 shares during the period. Baillie Gifford & Co. boosted its stake in Roblox by 1.9% during the 2nd quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock valued at $1,084,395,000 after purchasing an additional 535,414 shares in the last quarter. ARK Investment Management LLC increased its position in shares of Roblox by 12.9% during the 2nd quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock valued at $496,338,000 after purchasing an additional 1,519,591 shares during the period. Ieq Capital LLC raised its stake in shares of Roblox by 27.6% in the 1st quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock worth $473,811,000 after buying an additional 2,684,713 shares in the last quarter. Finally, Dragoneer Investment Group LLC raised its stake in shares of Roblox by 26.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after buying an additional 2,488,044 shares in the last quarter. 91.08% of the stock is owned by institutional investors and hedge funds.

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.