Piper Sandler Reaffirms “Overweight” Rating for Roblox (NYSE:RBLX)

Roblox (NYSE:RBLX)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Piper Sandler in a research note issued on Tuesday,Benzinga reports. They currently have a $72.00 price objective on the stock, up from their previous price objective of $65.00. Piper Sandler’s price objective would indicate a potential upside of 2.86% from the stock’s previous close.

RBLX has been the subject of several other reports. The Goldman Sachs Group raised their target price on Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Citigroup boosted their price objective on Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Benchmark increased their target price on Roblox from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Roth Mkm boosted their price target on shares of Roblox from $54.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price objective (up from $56.00) on shares of Roblox in a research note on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Roblox currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.14.

Roblox Price Performance

Roblox stock opened at $70.00 on Tuesday. The stock’s 50 day moving average price is $59.46 and its two-hundred day moving average price is $49.21. The stock has a market capitalization of $42.53 billion, a price-to-earnings ratio of -42.68 and a beta of 1.43. 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 52-week low of $29.55 and a 52-week high of $70.68.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS 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 business had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company posted ($0.45) earnings per share. The business’s quarterly revenue was up 9.5% on a year-over-year basis. On average, equities analysts predict that Roblox will post -1.56 earnings per share for the current year.

Insider Buying and Selling at Roblox

In other Roblox news, insider Manuel Bronstein sold 37,846 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.03, for a total transaction of $1,969,127.38. Following the sale, the insider now directly owns 674,259 shares of the company’s stock, valued at $35,081,695.77. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Reinstra sold 24,000 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $65.89, for a total transaction of $1,581,360.00. Following the transaction, the insider now owns 281,161 shares of the company’s stock, valued at $18,525,698.29. This represents a 7.86 % 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 three months. 22.15% of the stock is currently owned by insiders.

Institutional Trading of Roblox

Institutional investors have recently modified their holdings of the business. Toronto Dominion Bank lifted its position in shares of Roblox by 34.3% during the third quarter. Toronto Dominion Bank now owns 60,092 shares of the company’s stock worth $2,660,000 after acquiring an additional 15,333 shares in the last quarter. Smith Group Asset Management LLC raised its stake in shares of Roblox by 939.6% during the 4th quarter. Smith Group Asset Management LLC now owns 69,030 shares of the company’s stock valued at $3,994,000 after purchasing an additional 62,390 shares during the period. Entropy Technologies LP lifted its holdings in Roblox by 168.4% during the 3rd quarter. Entropy Technologies LP now owns 99,649 shares of the company’s stock worth $4,410,000 after purchasing an additional 62,521 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in Roblox by 12,971.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 52,024 shares of the company’s stock worth $2,302,000 after purchasing an additional 51,626 shares in the last quarter. Finally, State Street Corp boosted its stake in Roblox by 2.3% in the 3rd quarter. State Street Corp now owns 10,855,890 shares of the company’s stock worth $480,482,000 after purchasing an additional 240,565 shares during the period. 94.46% of the stock is currently owned by hedge funds and other institutional investors.

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.