Piper Sandler Forecasts Strong Price Appreciation for Roblox (NYSE:RBLX) Stock

by · The Markets Daily

Roblox (NYSE:RBLX – Get Free Report) had its price objective boosted by analysts at Piper Sandler from $54.00 to $65.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 26.36% from the stock’s current price.

Other analysts have also issued reports about the stock. Barclays raised their price objective on shares of Roblox from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. BTIG Research raised their price target on shares of Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a research report on Friday. Wolfe Research assumed coverage on Roblox in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. lifted their target price on Roblox from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC increased their price objective on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Friday. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.55.

Read Our Latest Stock Analysis on Roblox

Roblox Price Performance

RBLX stock opened at $51.44 on Friday. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a 50 day moving average price of $43.67 and a 200-day moving average price of $39.35. Roblox has a 52-week low of $29.55 and a 52-week high of $52.65. The firm has a market capitalization of $30.79 billion, a price-to-earnings ratio of -31.37 and a beta of 1.56.

Roblox (NYSE:RBLX – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.01. Roblox had a negative return on equity of 1,283.93% and a negative net margin of 30.90%. The business had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the business earned ($0.45) earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities research analysts forecast that Roblox will post -1.58 EPS for the current fiscal year.

Insider Transactions at Roblox

In other Roblox news, insider Mark Reinstra sold 12,000 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $13,706,240. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was 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 owns 374,633 shares in the company, valued at approximately $14,543,253.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark Reinstra sold 12,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $40.00, for a total value of $480,000.00. Following the completion of the transaction, the insider now owns 342,656 shares in the company, valued at $13,706,240. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 979,341 shares of company stock valued at $43,897,012 over the last quarter. 22.15% of the stock is currently owned by company insiders.

Institutional Trading of Roblox

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new position in Roblox in the 3rd quarter worth approximately $27,000. PARK CIRCLE Co bought a new position in shares of Roblox during the second quarter worth $30,000. Strategic Financial Concepts LLC purchased a new position in Roblox during the second quarter valued at $33,000. Gilliland Jeter Wealth Management LLC increased its holdings in Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after acquiring an additional 506 shares during the last quarter. Finally, Washington Trust Advisors Inc. purchased a new stake in Roblox in the 1st quarter worth $39,000. Institutional investors own 91.08% of the company’s stock.

About Roblox

(Get Free Report)

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.

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