Roblox (NYSE:RBLX) Price Target Raised to $62.00

Roblox (NYSE:RBLX) had its price objective boosted by JPMorgan Chase & Co. from $51.00 to $62.00 in a report published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts also recently commented on the company. Needham & Company LLC increased their target price on Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Friday. Wedbush reiterated an “outperform” rating and set a $49.00 target price on shares of Roblox in a research note on Friday, October 25th. BTIG Research increased their price target on Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a report on Friday. Wolfe Research started coverage on Roblox in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Raymond James increased their price target on Roblox from $51.00 to $60.00 and gave the company a “strong-buy” rating in a report on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.80.

Roblox Trading Down 2.8 %

RBLX stock opened at $50.00 on Friday. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $53.07. The business’s 50 day moving average price is $43.79 and its two-hundred day moving average price is $39.48. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 5.64.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.02. The company had revenue of $919.00 million for the quarter, compared to the consensus estimate of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.45) EPS. Sell-side analysts forecast that Roblox will post -1.59 EPS for the current year.

Insider Buying and Selling at Roblox

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the sale, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at $14,543,253.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Roblox news, Director Anthony P. Lee sold 200,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $50.33, for a total transaction of $10,066,000.00. Following the sale, the director now directly owns 4,707,579 shares of the company’s stock, valued at $236,932,451.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total value of $1,164,600.00. Following the transaction, the chief financial officer now owns 374,633 shares of the company’s stock, valued at approximately $14,543,253.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 989,341 shares of company stock valued at $44,391,412 over the last ninety days. 22.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Roblox by 10.4% during the first quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock valued at $1,950,322,000 after purchasing an additional 4,818,022 shares in the last quarter. Baillie Gifford & Co. grew its position in shares of Roblox by 1.9% during the second quarter. Baillie Gifford & Co. now owns 29,142,565 shares of the company’s stock valued at $1,084,395,000 after purchasing an additional 535,414 shares in the last quarter. ARK Investment Management LLC grew its position in shares of Roblox by 12.9% during the second quarter. ARK Investment Management LLC now owns 13,338,829 shares of the company’s stock valued at $496,338,000 after purchasing an additional 1,519,591 shares in the last quarter. Ieq Capital LLC grew its position in shares of Roblox by 27.6% during the first quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock valued at $473,811,000 after purchasing an additional 2,684,713 shares in the last quarter. Finally, Dragoneer Investment Group LLC grew its position in shares of Roblox by 26.9% during the second quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after purchasing an additional 2,488,044 shares in the last quarter. Hedge funds and other institutional investors own 91.08% of the company’s stock.

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.