Roblox (NYSE:RBLX) Price Target Raised to $125.00

Roblox (NYSE:RBLX) had its price objective boosted by JPMorgan Chase & Co. from $120.00 to $125.00 in a research note released on Wednesday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts have also commented on the company. Canaccord Genuity Group raised their price objective on Roblox from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. BTIG Research raised their price objective on Roblox from $73.00 to $124.00 and gave the stock a “buy” rating in a research report on Tuesday, July 1st. Oppenheimer restated an “outperform” rating and set a $125.00 price objective (up from $80.00) on shares of Roblox in a research report on Wednesday, June 18th. Macquarie raised their price objective on Roblox from $76.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, May 5th. Finally, Roth Mkm lifted their price target on Roblox from $72.00 to $74.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.68.

Roblox Trading Up 1.8%

NYSE:RBLX opened at $124.35 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.39. Roblox has a 1-year low of $35.30 and a 1-year high of $124.60. The firm has a market capitalization of $84.34 billion, a price-to-earnings ratio of -92.80 and a beta of 1.60. The stock has a fifty day simple moving average of $96.51 and a 200 day simple moving average of $74.31.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.09. Roblox had a negative return on equity of 442.68% and a negative net margin of 22.94%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company posted ($0.43) EPS. The business’s quarterly revenue was up 30.6% compared to the same quarter last year. Sell-side analysts forecast that Roblox will post -1.49 earnings per share for the current year.

Insider Buying and Selling

In other Roblox news, insider Matthew D. Kaufman sold 6,000 shares of Roblox stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $102.58, for a total value of $615,480.00. Following the transaction, the insider directly owned 313,223 shares of the company’s stock, valued at $32,130,415.34. The trade was a 1.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Baszucki sold 27,901 shares of Roblox stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $105.19, for a total value of $2,934,906.19. Following the completion of the transaction, the chief executive officer directly owned 875 shares in the company, valued at approximately $92,041.25. This represents a 96.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,645,690 shares of company stock worth $592,729,502. 12.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its position in Roblox by 21.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 801 shares of the company’s stock worth $84,000 after buying an additional 141 shares during the period. Independent Wealth Network Inc. increased its position in shares of Roblox by 3.9% during the second quarter. Independent Wealth Network Inc. now owns 3,885 shares of the company’s stock valued at $409,000 after purchasing an additional 146 shares during the period. MetLife Investment Management LLC increased its position in shares of Roblox by 0.5% during the fourth quarter. MetLife Investment Management LLC now owns 32,374 shares of the company’s stock valued at $1,873,000 after purchasing an additional 161 shares during the period. SBI Securities Co. Ltd. increased its position in shares of Roblox by 1.2% during the first quarter. SBI Securities Co. Ltd. now owns 13,295 shares of the company’s stock valued at $775,000 after purchasing an additional 163 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Roblox by 27.5% during the second quarter. UMB Bank n.a. now owns 817 shares of the company’s stock valued at $86,000 after purchasing an additional 176 shares during the period. 94.46% of the stock is owned by 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.