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 research report released on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

RBLX has been the subject of a number of other research reports. Benchmark boosted their price objective on Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Raymond James raised their price target on shares of Roblox from $51.00 to $60.00 and gave the stock a “strong-buy” rating in a research note on Thursday. BMO Capital Markets reiterated an “outperform” rating and set a $56.00 price objective on shares of Roblox in a report on Tuesday, July 30th. Piper Sandler upped their target price on shares of Roblox from $54.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Roblox from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roblox currently has an average rating of “Moderate Buy” and an average price target of $52.55.

Roblox Stock Down 0.5 %

RBLX traded down $0.28 on Friday, hitting $51.44. The company had a trading volume of 12,925,147 shares, compared to its average volume of 9,062,251. Roblox has a 12-month low of $29.55 and a 12-month high of $52.65. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 9.04. The business’s fifty day simple moving average is $43.67 and its 200 day simple moving average is $39.34.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.01. Roblox had a negative net margin of 30.90% and a negative return on equity of 1,283.93%. The business had revenue of $919.00 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the firm posted ($0.45) earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities research analysts predict that Roblox will post -1.58 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In other news, CAO Amy Marie Rawlings sold 4,933 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total transaction of $199,046.55. Following the completion of the sale, the chief accounting officer now owns 99,617 shares in the company, valued at approximately $4,019,545.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Roblox news, CAO Amy Marie Rawlings sold 4,933 shares of the company’s 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 transaction, the chief accounting officer now owns 99,617 shares in the company, valued at approximately $4,019,545.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction on 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 owns 374,633 shares of the company’s stock, valued at $14,543,253.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 979,341 shares of company stock valued at $43,897,012 in the last 90 days. Insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

Large investors have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new stake in shares of Roblox in the third quarter worth about $27,000. PARK CIRCLE Co purchased a new stake in Roblox in the 2nd quarter worth approximately $30,000. Strategic Financial Concepts LLC acquired a new stake in shares of Roblox during the 2nd quarter worth approximately $33,000. Gilliland Jeter Wealth Management LLC lifted its stake in shares of Roblox by 102.4% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after purchasing an additional 506 shares during the period. Finally, Washington Trust Advisors Inc. purchased a new stake in Roblox during the first quarter worth $39,000. 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.