Roblox (NYSE:RBLX) Given New $54.00 Price Target at Piper Sandler

Roblox (NYSE:RBLX) had its price objective hoisted by research analysts at Piper Sandler from $48.00 to $54.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 33.30% from the stock’s current price.

Other equities analysts have also issued reports about the company. Barclays boosted their price target on Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Needham & Company LLC upped their price objective on Roblox from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. BTIG Research upped their price objective on Roblox from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Wolfe Research began coverage on Roblox in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $46.00 price objective on shares of Roblox in a research note on Monday, July 29th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.48.

Roblox Trading Down 2.1 %

Shares of RBLX opened at $40.51 on Wednesday. Roblox has a 12-month low of $29.55 and a 12-month high of $48.43. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. The firm has a market capitalization of $23.95 billion, a price-to-earnings ratio of -21.78 and a beta of 1.60. The stock’s 50-day moving average price is $42.61 and its 200 day moving average price is $38.76.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.07. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The firm had revenue of $893.50 million for the quarter, compared to analyst estimates of $897.88 million. During the same period in the previous year, the company posted ($0.46) earnings per share. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. As a group, research analysts predict that Roblox will post -1.59 earnings per share for the current year.

Insiders Place Their Bets

In other Roblox news, insider Mark Reinstra sold 12,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $40.00, for a total transaction of $480,000.00. Following the transaction, the insider now owns 342,656 shares of the company’s stock, valued at approximately $13,706,240. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Roblox news, CEO David Baszucki sold 166,668 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $40.21, for a total transaction of $6,701,720.28. Following the transaction, the chief executive officer now owns 142,260 shares of the company’s stock, valued at approximately $5,720,274.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Reinstra sold 12,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $40.00, for a total transaction of $480,000.00. Following the sale, the insider now owns 342,656 shares of the company’s stock, valued at $13,706,240. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 762,341 shares of company stock valued at $32,788,526. 22.15% of the stock is currently owned by corporate insiders.

Institutional Trading of Roblox

Several institutional investors and hedge funds have recently made changes to their positions in RBLX. Bornite Capital Management LP bought a new stake in shares of Roblox during the 4th quarter valued at $4,572,000. Board of Trustees of The Leland Stanford Junior University bought a new stake in shares of Roblox during the 4th quarter valued at $3,149,000. Oracle Alpha Inc. bought a new stake in shares of Roblox during the 4th quarter valued at $521,000. Beacon Financial Group bought a new stake in shares of Roblox during the 4th quarter valued at $545,000. Finally, Virtu Financial LLC bought a new stake in shares of Roblox during the 4th quarter valued at $1,351,000. Institutional investors 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.