Roblox (NYSE:RBLX) Price Target Raised to $80.00 at The Goldman Sachs Group

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

A number of other analysts have also recently commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $72.00 target price (up from $65.00) on shares of Roblox in a research note on Tuesday, January 28th. Canaccord Genuity Group upped their target price on Roblox from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. CICC Research began coverage on Roblox in a research note on Tuesday, January 14th. They issued an “outperform” rating for the company. Moffett Nathanson downgraded Roblox from a “neutral” rating to a “sell” rating and set a $34.00 price target on the stock. in a research note on Friday, February 7th. Finally, Oppenheimer lifted their target price on Roblox from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.68.

Roblox Stock Up 0.5%

Shares of Roblox stock opened at $81.21 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 4.82. The company has a market cap of $51.16 billion, a P/E ratio of -56.00 and a beta of 1.46. The firm’s 50 day moving average price is $62.73 and its 200-day moving average price is $60.67. Roblox has a 52-week low of $31.59 and a 52-week high of $82.02.

Roblox (NYSE:RBLX) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.09. Roblox had a negative return on equity of 665.98% and a negative net margin of 25.97%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the business posted ($0.43) EPS. The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. On average, sell-side analysts predict that Roblox will post -1.49 EPS for the current fiscal year.

Insider Activity

In other news, insider Matthew D. Kaufman sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $57.99, for a total value of $347,940.00. Following the sale, the insider now directly owns 364,244 shares of the company’s stock, valued at approximately $21,122,509.56. The trade was a 1.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Guthrie sold 21,614 shares of Roblox stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.34, for a total transaction of $1,325,802.76. Following the completion of the sale, the chief financial officer now owns 395,465 shares of the company’s stock, valued at $24,257,823.10. This trade represents a 5.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,358,232 shares of company stock worth $161,232,273 over the last ninety days. Corporate insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several hedge funds have recently bought and sold shares of RBLX. Gordian Capital Singapore Pte Ltd increased its stake in Roblox by 74.8% during the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 561 shares of the company’s stock worth $32,000 after purchasing an additional 240 shares during the period. Larson Financial Group LLC increased its position in shares of Roblox by 819.0% during 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 period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Roblox in the first quarter valued at $39,000. Colonial Trust Co SC acquired a new position in Roblox during the 4th quarter worth $41,000. Finally, Parkside Financial Bank & Trust increased its holdings in Roblox by 44.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 747 shares of the company’s stock worth $43,000 after purchasing an additional 230 shares during the period. Institutional investors and hedge funds own 94.46% of the company’s stock.

About Roblox

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.