Roblox’s (RBLX) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Roblox (NYSE:RBLX) in a research note published on Tuesday,Benzinga reports. Piper Sandler currently has a $72.00 price objective on the stock, up from their previous price objective of $65.00.

A number of other analysts have also recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC upped their price objective on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Citigroup raised their target price on Roblox from $53.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. HSBC assumed coverage on Roblox in a research report on Thursday, December 12th. They issued a “buy” rating and a $63.00 price target on the stock. Finally, Wells Fargo & Company boosted their target price 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. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.14.

Roblox Trading Up 1.9 %

Shares of RBLX opened at $71.39 on Tuesday. The stock’s 50-day moving average price is $59.90 and its 200 day moving average price is $49.36. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64. Roblox has a 12-month low of $29.55 and a 12-month high of $71.77. The firm has a market capitalization of $43.37 billion, a price-to-earnings ratio of -43.53 and a beta of 1.43.

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

Insider Buying and Selling

In other Roblox news, insider Mark Reinstra sold 24,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $65.89, for a total transaction of $1,581,360.00. Following the sale, the insider now directly owns 281,161 shares of the company’s stock, valued at $18,525,698.29. The trade was a 7.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amy Marie Rawlings sold 2,186 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $52.90, for a total value of $115,639.40. Following the sale, the chief accounting officer now owns 91,062 shares in the company, valued at $4,817,179.80. The trade was a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,207,812 shares of company stock worth $69,509,773 over the last ninety days. Company insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc lifted its stake in Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after purchasing an additional 239 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Roblox during the 3rd quarter worth approximately $27,000. Frazier Financial Advisors LLC raised its stake in Roblox by 20,800.0% in the 3rd quarter. Frazier Financial Advisors LLC now owns 627 shares of the company’s stock valued at $28,000 after acquiring an additional 624 shares during the period. GAMMA Investing LLC lifted its holdings in Roblox by 132.8% during the 3rd quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock valued at $41,000 after purchasing an additional 530 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in shares of Roblox by 277.0% during the 3rd quarter. Huntington National Bank now owns 1,048 shares of the company’s stock worth $46,000 after buying an additional 770 shares during the period. 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.