Deutsche Bank Aktiengesellschaft Boosts Roblox (NYSE:RBLX) Price Target to $60.00

Roblox (NYSE:RBLX) had its target price upped by stock analysts at Deutsche Bank Aktiengesellschaft from $45.00 to $60.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 17.21% from the company’s current price.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company upped their price target on Roblox from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Wedbush reiterated an “outperform” rating and issued a $49.00 price objective on shares of Roblox in a report on Friday, October 25th. Morgan Stanley upgraded Roblox from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $38.00 to $65.00 in a report on Monday. BTIG Research boosted their price objective on Roblox from $51.00 to $56.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Roth Mkm boosted their price objective on Roblox from $35.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Seven equities research 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.30.

Roblox Stock Performance

Shares of Roblox stock opened at $51.19 on Monday. Roblox has a 52 week low of $29.55 and a 52 week high of $53.07. The business’s fifty day simple moving average is $43.79 and its 200-day simple moving average is $39.48. The firm has a market cap of $31.10 billion, a PE ratio of -31.21 and a beta of 1.56. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 5.64.

Roblox (NYSE:RBLX) last announced its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.02. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The business had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the company posted ($0.45) EPS. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts forecast that Roblox will post -1.59 earnings per share for the current year.

Insider Activity

In other news, insider Mark Reinstra sold 12,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $40.00, for a total value of $480,000.00. Following the transaction, the insider now owns 342,656 shares in the company, valued at approximately $13,706,240. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Mark Reinstra sold 12,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $40.00, for a total value of $480,000.00. Following the completion of the sale, the insider now directly owns 342,656 shares of the company’s stock, valued at $13,706,240. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Guthrie sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $49.44, for a total value of $494,400.00. Following the completion of the sale, the chief financial officer now directly owns 352,844 shares of the company’s stock, valued at approximately $17,444,607.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 989,341 shares of company stock worth $44,391,412. 22.15% of the stock is currently owned by insiders.

Institutional Trading of Roblox

A number of large investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale lifted its position in Roblox by 2.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock worth $2,318,000 after acquiring an additional 1,419 shares during the period. Dragoneer Investment Group LLC lifted its position in Roblox by 26.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock worth $437,039,000 after acquiring an additional 2,488,044 shares during the period. 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 worth $1,395,000 after acquiring an additional 14,348 shares during the period. 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 worth $11,000,000 after acquiring an additional 44,557 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Roblox by 319.6% during the 1st quarter. Acadian Asset Management LLC now owns 28,271 shares of the company’s stock worth $1,075,000 after acquiring an additional 21,533 shares during the period. 91.08% of the stock is owned by institutional investors and hedge funds.

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.