Roblox (NYSE:RBLX) Price Target Raised to $60.00

Roblox (NYSE:RBLX) had its price objective raised by Deutsche Bank Aktiengesellschaft from $45.00 to $60.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

RBLX has been the subject of a number of other reports. Wolfe Research started coverage on Roblox in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Morgan Stanley upgraded Roblox from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $38.00 to $65.00 in a research note on Monday. JPMorgan Chase & Co. increased their price objective on shares of Roblox from $51.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Canaccord Genuity Group boosted their target price on shares of Roblox from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup increased their price target on shares of Roblox from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Roblox presently has a consensus rating of “Moderate Buy” and an average price target of $55.30.

Roblox Stock Performance

Shares of NYSE:RBLX opened at $52.86 on Monday. The stock has a market capitalization of $32.12 billion, a price-to-earnings ratio of -32.23 and a beta of 1.56. The business’s fifty day moving average price is $43.93 and its two-hundred day moving average price is $39.59. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $53.07. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The business had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.45) EPS. As a group, analysts predict that Roblox will post -1.58 EPS for the current fiscal year.

Insider Activity

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of Roblox 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 transaction, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $14,543,253.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 in the company, valued at approximately $14,543,253.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amy Marie Rawlings sold 4,933 shares of Roblox stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.35, for a total transaction of $199,046.55. Following the completion of the transaction, the chief accounting officer now directly owns 99,617 shares in the company, valued at approximately $4,019,545.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,029,373 shares of company stock valued at $46,476,179 in the last quarter. Company insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of large investors have recently added to or reduced their stakes in RBLX. Impact Partnership Wealth LLC grew its holdings in shares of Roblox by 3.8% during the third quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after buying an additional 245 shares in the last quarter. Swedbank AB raised its holdings in shares of Roblox by 0.5% in the second quarter. Swedbank AB now owns 53,297 shares of the company’s stock valued at $1,983,000 after purchasing an additional 285 shares during the last quarter. Metis Global Partners LLC lifted its position in shares of Roblox by 5.0% in the third quarter. Metis Global Partners LLC now owns 6,003 shares of the company’s stock worth $266,000 after purchasing an additional 288 shares in the last quarter. Thrive Wealth Management LLC grew its position in Roblox by 4.3% in the second quarter. Thrive Wealth Management LLC now owns 7,358 shares of the company’s stock valued at $274,000 after purchasing an additional 300 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in Roblox by 5.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,691 shares of the company’s stock valued at $296,000 after buying an additional 321 shares during the last quarter. Institutional investors own 91.08% 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.