Roblox (NYSE:RBLX) Price Target Increased to $51.00 by Analysts at JPMorgan Chase & Co.

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

Other research analysts have also issued research reports about the company. BMO Capital Markets reissued an “outperform” rating and set a $56.00 price objective on shares of Roblox in a report on Tuesday, July 30th. Wedbush restated an “outperform” rating and set a $49.00 price objective on shares of Roblox in a research report on Wednesday, October 9th. Jefferies Financial Group assumed coverage on shares of Roblox in a report on Thursday, July 11th. They set a “hold” rating and a $42.00 price objective for the company. BTIG Research raised their price target on Roblox from $47.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Finally, The Goldman Sachs Group upped their price objective on Roblox from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Eight investment 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 $46.29.

Roblox Stock Performance

Roblox stock opened at $41.30 on Tuesday. Roblox has a 1-year low of $29.55 and a 1-year high of $48.43. 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 firm has a market capitalization of $24.42 billion, a PE ratio of -22.20 and a beta of 1.60. The firm’s 50 day simple moving average is $43.14 and its 200 day simple moving average is $38.99.

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

Insider Transactions at Roblox

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $41.50, for a total transaction of $1,245,000.00. Following the completion of the transaction, the chief financial officer now owns 352,844 shares of the company’s stock, valued at $14,643,026. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO David Baszucki sold 166,666 shares of Roblox stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $43.55, for a total transaction of $7,258,304.30. Following the sale, the chief executive officer now owns 135,761 shares of the company’s stock, valued at approximately $5,912,391.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $41.50, for a total transaction of $1,245,000.00. Following the completion of the transaction, the chief financial officer now directly owns 352,844 shares of the company’s stock, valued at approximately $14,643,026. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 612,673 shares of company stock worth $26,805,956. Company insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its stake in Roblox by 2.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock worth $2,318,000 after purchasing an additional 1,419 shares during the period. Dragoneer Investment Group LLC boosted its holdings in shares of Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after buying an additional 2,488,044 shares in the last quarter. SteelPeak Wealth LLC increased its stake in shares of Roblox by 41.4% in the 1st quarter. SteelPeak Wealth LLC now owns 11,091 shares of the company’s stock worth $423,000 after acquiring an additional 3,247 shares in the last quarter. Itau Unibanco Holding S.A. lifted its position in Roblox by 62.0% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 37,482 shares of the company’s stock valued at $1,395,000 after acquiring an additional 14,348 shares during the period. Finally, Sei Investments Co. lifted its position in Roblox by 18.3% during the 1st quarter. Sei Investments Co. now owns 288,112 shares of the company’s stock valued at $11,000,000 after acquiring an additional 44,557 shares during the period. Hedge funds and other 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.