Roblox (NYSE:RBLX) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Roblox (NYSE:RBLX) had its target price raised by The Goldman Sachs Group from $63.00 to $80.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently weighed in on RBLX. Citigroup upped their price target on shares of Roblox from $78.00 to $85.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Morgan Stanley cut their price objective on shares of Roblox from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company boosted their price objective on shares of Roblox from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Moffett Nathanson lowered shares of Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price objective on the stock. in a research report on Friday, February 7th. Finally, FBN Securities initiated coverage on shares of Roblox in a research report on Friday, March 28th. They issued a “sector perform” rating and a $65.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.68.

Roblox Stock Up 2.5%

Shares of NYSE RBLX opened at $78.96 on Wednesday. The stock has a market cap of $49.74 billion, a P/E ratio of -54.45 and a beta of 1.46. The firm has a 50 day moving average price of $61.66 and a 200 day moving average price of $60.14. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.98 and a current ratio of 1.02. Roblox has a 52-week low of $31.55 and a 52-week high of $79.50.

Roblox (NYSE:RBLX) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.09. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Roblox had a negative net margin of 25.97% and a negative return on equity of 665.98%. The business’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.43) earnings per share. Analysts expect that Roblox will post -1.49 EPS for the current year.

Insider Activity at Roblox

In other Roblox news, CEO David Baszucki sold 6,448 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $61.33, for a total transaction of $395,455.84. Following the sale, the chief executive officer now directly owns 122,853 shares in the company, valued at $7,534,574.49. This represents a 4.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anthony P. Lee sold 12,800 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $73.46, for a total transaction of $940,288.00. Following the sale, the director now owns 296,584 shares in the company, valued at $21,787,060.64. The trade was a 4.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,299,558 shares of company stock worth $156,796,445. Corporate insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Large investors have recently bought and sold shares of the company. Gordian Capital Singapore Pte Ltd lifted its holdings in shares of Roblox by 74.8% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock worth $32,000 after acquiring an additional 240 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Roblox by 819.0% in the first quarter. Larson Financial Group LLC now owns 579 shares of the company’s stock worth $34,000 after acquiring an additional 516 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Roblox in the first quarter worth about $39,000. Colonial Trust Co SC bought a new position in shares of Roblox in the fourth quarter worth about $41,000. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Roblox by 44.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after acquiring an additional 230 shares during the last quarter. 94.46% of the stock is currently owned by institutional investors and hedge funds.

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.