The Goldman Sachs Group Forecasts Strong Price Appreciation for Roblox (NYSE:RBLX) Stock

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

A number of other equities analysts also recently issued reports on RBLX. Raymond James raised their price target on Roblox from $51.00 to $60.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 31st. Canaccord Genuity Group increased their price target on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday. Barclays increased their target price on shares of Roblox from $40.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday. Needham & Company LLC boosted their price objective on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Roblox from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.80.

Roblox Trading Down 2.8 %

Shares of RBLX opened at $50.00 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. The firm has a market capitalization of $29.93 billion, a price-to-earnings ratio of -30.49 and a beta of 1.56. The firm’s 50-day moving average price is $43.79 and its 200-day moving average price is $39.48. Roblox has a 1-year low of $29.55 and a 1-year high of $53.07.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.02. The business had revenue of $919.00 million for the quarter, compared to the consensus estimate of $1.02 billion. Roblox had a negative return on equity of 1,283.93% and a negative net margin of 30.90%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.45) earnings per share. Sell-side analysts anticipate that Roblox will post -1.58 EPS for the current year.

Insider Activity

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction on 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 owns 374,633 shares of the company’s stock, valued at $14,543,253.06. This trade 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 available through the SEC website. In other news, insider Mark Reinstra sold 17,000 shares of Roblox stock in a transaction on Monday, August 19th. The shares were sold at an average price of $40.47, for a total value of $687,990.00. Following the transaction, the insider now directly owns 342,656 shares of the company’s stock, valued at $13,867,288.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total value 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 approximately $14,543,253.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 989,341 shares of company stock worth $44,391,412 over the last ninety days. Corporate insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Roblox by 98.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,102 shares of the company’s stock valued at $42,000 after buying an additional 548 shares during the last quarter. Norden Group LLC bought a new position in shares of Roblox during the 1st quarter valued at $230,000. Maryland State Retirement & Pension System boosted its position in Roblox by 4.2% during the first quarter. Maryland State Retirement & Pension System now owns 36,877 shares of the company’s stock worth $1,343,000 after purchasing an additional 1,492 shares during the period. Private Advisor Group LLC boosted its stake in Roblox by 4.4% during the 1st quarter. Private Advisor Group LLC now owns 60,111 shares of the company’s stock valued at $2,295,000 after purchasing an additional 2,506 shares during the period. Finally, Nordea Investment Management AB raised its stake in Roblox by 4.8% during the 1st quarter. Nordea Investment Management AB now owns 28,492 shares of the company’s stock valued at $1,104,000 after purchasing an additional 1,298 shares during the last quarter. Institutional investors and hedge funds own 91.08% 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.