Analysts Set Roblox Co. (NYSE:RBLX) Price Target at $86.00

Roblox Co. (NYSE:RBLX) has earned a consensus recommendation of “Buy” from the seven research firms that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $86.00.

A number of analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Roblox in a research note on Monday, April 5th. They set a “buy” rating and a $81.00 target price on the stock. Morgan Stanley increased their target price on Roblox from $80.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, May 11th. Bank of America initiated coverage on Roblox in a research note on Monday, April 5th. They set a “buy” rating and a $78.00 price target on the stock. Stifel Nicolaus started coverage on Roblox in a research note on Monday, March 22nd. They issued a “buy” rating and a $85.00 price objective for the company. Finally, Truist Securities boosted their target price on shares of Roblox from $83.00 to $103.00 and gave the stock a “buy” rating in a report on Tuesday, June 1st.

In other news, CEO David Baszucki sold 375,000 shares of the company’s stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $96.21, for a total value of $36,078,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brett Tolley sold 50,637 shares of the firm’s stock in a transaction dated Tuesday, June 1st. The shares were sold at an average price of $95.95, for a total transaction of $4,858,620.15. Following the transaction, the insider now directly owns 85,432 shares in the company, valued at $8,197,200.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 588,295 shares of company stock worth $56,298,147.

Hedge funds have recently bought and sold shares of the business. Abundance Wealth Counselors bought a new stake in Roblox in the first quarter worth about $26,000. Lindbrook Capital LLC bought a new stake in shares of Roblox in the 1st quarter worth approximately $26,000. Parallel Advisors LLC purchased a new position in Roblox in the first quarter valued at approximately $29,000. Whittier Trust Co. of Nevada Inc. purchased a new stake in Roblox in the first quarter worth $30,000. Finally, Hartford Financial Management Inc. bought a new stake in shares of Roblox in the first quarter valued at $31,000. 32.52% of the stock is currently owned by institutional investors and hedge funds.

RBLX traded up $1.72 on Friday, hitting $86.58. 299,936 shares of the stock were exchanged, compared to its average volume of 11,546,146. Roblox has a 12 month low of $60.50 and a 12 month high of $103.87. The company has a 50-day moving average of $80.99.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Sunday, May 9th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.59). The business had revenue of $387.00 million for the quarter, compared to analyst estimates of $490.90 million. Roblox’s quarterly revenue was up 139.5% compared to the same quarter last year. Sell-side analysts anticipate that Roblox will post 0.89 EPS for the current fiscal year.

About Roblox

Roblox Corporation develops and operates an online entertainment platform. It offers Roblox Client, an application that allows users to explore 3D digital worlds; and Roblox Studio, a toolset that allows developers and creators to build, publish, and operate 3D experiences and other content. The company also provides Roblox Cloud, a solution that provides services and infrastructure to power the human co-experience platform.

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Analyst Recommendations for Roblox (NYSE:RBLX)

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