Roblox (NYSE:RBLX) PT Raised to $51.00 at JPMorgan Chase & Co.

Roblox (NYSE:RBLX) had its price objective increased by research analysts at JPMorgan Chase & Co. from $50.00 to $51.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 23.94% from the stock’s previous close.

Several other research analysts also recently commented on RBLX. Benchmark boosted their target price on Roblox from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft increased their price objective 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. BMO Capital Markets reaffirmed an “outperform” rating and set a $56.00 target price on shares of Roblox in a research note on Tuesday, July 30th. Wedbush reiterated an “outperform” rating and set a $49.00 price target on shares of Roblox in a report on Wednesday, October 9th. Finally, Needham & Company LLC raised their price objective on Roblox from $40.00 to $50.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $46.29.

Roblox Price Performance

Shares of NYSE:RBLX opened at $41.15 on Tuesday. 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 stock has a market capitalization of $24.33 billion, a PE ratio of -22.12 and a beta of 1.60. The firm has a 50 day moving average of $43.19 and a 200-day moving average of $39.01. Roblox has a 12 month low of $29.55 and a 12 month high of $48.43.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.07. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The company had revenue of $893.50 million for the quarter, compared to analyst estimates of $897.88 million. During the same quarter last year, the company posted ($0.46) EPS. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, equities research analysts predict that Roblox will post -1.58 EPS 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 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 owns 374,633 shares of the company’s stock, valued at approximately $14,543,253.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Reinstra sold 17,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $40.47, for a total value of $687,990.00. Following the completion of the transaction, the insider now directly owns 342,656 shares in the company, valued at approximately $13,867,288.32. 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 612,673 shares of company stock worth $26,805,956. Company insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

A number of large investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale raised its holdings in shares of Roblox by 2.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock valued at $2,318,000 after purchasing an additional 1,419 shares during the period. Dragoneer Investment Group LLC raised its stake 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 buying an additional 2,488,044 shares during the period. SteelPeak Wealth LLC raised its stake in Roblox by 41.4% during the 1st quarter. SteelPeak Wealth LLC now owns 11,091 shares of the company’s stock worth $423,000 after buying an additional 3,247 shares during the period. Itau Unibanco Holding S.A. grew its stake in Roblox by 62.0% in the second 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. increased its holdings in shares of Roblox by 18.3% during the first 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 in the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.

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.