Roblox (NYSE:RBLX) Price Target Raised to $51.00

Roblox (NYSE:RBLX) had its target price boosted by JPMorgan Chase & Co. from $50.00 to $51.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group raised their price target on Roblox from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Roth Mkm increased their price objective on shares of Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Wells Fargo & Company boosted their price objective on shares of Roblox from $46.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Macquarie increased their target price on Roblox from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, BTIG Research lifted their price target on Roblox from $47.00 to $51.00 and gave the company a “buy” rating in a report on Monday, September 9th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.29.

Roblox Stock Up 1.5 %

NYSE RBLX opened at $41.78 on Tuesday. Roblox has a 52 week low of $29.55 and a 52 week high of $48.43. The firm has a market capitalization of $25.01 billion, a price-to-earnings ratio of -24.29 and a beta of 1.60. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 9.04. The company has a fifty day moving average of $43.26 and a two-hundred day moving average of $39.04.

Roblox (NYSE:RBLX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The firm had revenue of $893.50 million for the quarter, compared to analysts’ expectations of $897.88 million. During the same period in the prior year, the business posted ($0.46) earnings per share. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, analysts predict that Roblox will post -1.58 earnings per share for the current year.

Insider Transactions at Roblox

In related news, CAO Amy Marie Rawlings sold 4,933 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the sale, the chief accounting officer now owns 99,617 shares in the company, valued at $4,019,545.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Amy Marie Rawlings sold 4,933 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the sale, the chief accounting officer now owns 99,617 shares in the company, valued at $4,019,545.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Anthony P. Lee sold 27,532 shares of Roblox stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $43.52, for a total value of $1,198,192.64. Following the transaction, the director now owns 165,190 shares of the company’s stock, valued at approximately $7,189,068.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 612,673 shares of company stock worth $26,805,956 over the last three months. 22.15% of the stock is currently owned by insiders.

Institutional Trading of Roblox

Hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Roblox by 266.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 34,851 shares of the company’s stock worth $1,542,000 after acquiring an additional 25,333 shares during the period. Forsta AP Fonden raised its holdings in Roblox by 10.7% in the 3rd quarter. Forsta AP Fonden now owns 101,200 shares of the company’s stock worth $4,479,000 after purchasing an additional 9,800 shares during the period. Ballentine Partners LLC raised its holdings in Roblox by 2.0% in the 3rd quarter. Ballentine Partners LLC now owns 28,396 shares of the company’s stock worth $1,257,000 after purchasing an additional 546 shares during the period. Assenagon Asset Management S.A. grew its holdings in Roblox by 853.1% in the third quarter. Assenagon Asset Management S.A. now owns 278,576 shares of the company’s stock valued at $12,330,000 after purchasing an additional 249,347 shares during the period. Finally, IFM Investors Pty Ltd raised its stake in shares of Roblox by 1.1% during the 3rd quarter. IFM Investors Pty Ltd now owns 92,118 shares of the company’s stock worth $4,077,000 after buying an additional 976 shares during the period. 91.08% of the stock is owned by hedge funds and other institutional investors.

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.