Roblox (NYSE:RBLX) Price Target Raised to $53.00

Roblox (NYSE:RBLX) had its target price raised by JPMorgan Chase & Co. from $40.00 to $53.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research firms have also weighed in on RBLX. Oppenheimer restated an “outperform” rating on shares of Roblox in a report on Friday, September 11th. Bank of America upped their target price on Roblox from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, September 14th. Canaccord Genuity Group set a $58.00 price target on Roblox in a report on Friday, July 31st. Morgan Stanley dropped their price target on shares of Roblox from $62.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Finally, Cantor Fitzgerald started coverage on shares of Roblox in a research report on Monday, June 29th. They issued an “overweight” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $56.96.

Roblox Trading Down 3.3%

Roblox stock opened at $49.47 on Wednesday. Roblox has a one year low of $33.88 and a one year high of $135.85. The company’s fifty day moving average price is $43.57 and its two-hundred day moving average price is $47.75. The company has a debt-to-equity ratio of 7.82, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $33.14 billion, a price-to-earnings ratio of -34.59 and a beta of 1.47.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, July 30th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.08. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Roblox had a negative return on equity of 292.85% and a negative net margin of 17.60%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. On average, analysts forecast that Roblox will post -1.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Mark Reinstra sold 17,934 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $37.96, for a total transaction of $680,774.64. Following the completion of the transaction, the insider owned 398,064 shares of the company’s stock, valued at approximately $15,110,509.44. The trade was a 4.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Naveen Chopra sold 17,509 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $37.96, for a total value of $664,641.64. Following the transaction, the chief financial officer directly owned 363,249 shares of the company’s stock, valued at $13,788,932.04. This represents a 4.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 186,390 shares of company stock valued at $7,283,371 in the last ninety days. Company insiders own 10.05% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RBLX. TD Waterhouse Canada Inc. increased its position in Roblox by 21.5% during the third quarter. TD Waterhouse Canada Inc. now owns 1,152 shares of the company’s stock worth $50,000 after acquiring an additional 204 shares during the period. Aspiriant LLC acquired a new position in Roblox during the 3rd quarter valued at $227,000. Chemistry Wealth Management LLC boosted its holdings in Roblox by 2.7% in the 3rd quarter. Chemistry Wealth Management LLC now owns 17,724 shares of the company’s stock valued at $751,000 after purchasing an additional 459 shares during the period. Activest Wealth Management boosted its holdings in Roblox by 72.9% in the 3rd quarter. Activest Wealth Management now owns 588 shares of the company’s stock valued at $25,000 after purchasing an additional 248 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in Roblox by 122.4% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,733 shares of the company’s stock valued at $116,000 after purchasing an additional 1,504 shares during the period. 94.46% of the stock is owned by institutional investors.

Roblox Company Profile

Roblox Corporation (NYSE:RBLX) operates an online entertainment platform where users can create, share and experience interactive 3D content. The platform hosts user-generated games and other virtual experiences across genres, including entertainment, social activities, education and simulated environments.

Roblox provides development tools through Roblox Studio, enabling creators to build and publish experiences, digital items and other content. Users can customize avatars, interact with others and access the platform across supported computers, mobile devices, gaming consoles and virtual reality systems.