Roblox (NYSE:RBLX) Given New $60.00 Price Target at Deutsche Bank Aktiengesellschaft

Roblox (NYSE:RBLX) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $45.00 to $60.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently weighed in on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price objective (up from $56.00) on shares of Roblox in a research report on Friday, November 1st. The Goldman Sachs Group lifted their price objective on shares of Roblox from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Macquarie upped their price objective on shares of Roblox from $50.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Needham & Company LLC lifted their target price on shares of Roblox from $50.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Citigroup increased their price target on shares of Roblox from $46.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Roblox has an average rating of “Moderate Buy” and an average target price of $55.30.

Roblox Trading Up 0.4 %

RBLX opened at $53.11 on Monday. 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 has a 52 week low of $29.55 and a 52 week high of $53.66. The business’s 50 day moving average is $44.11 and its two-hundred day moving average is $39.68. The firm has a market cap of $32.27 billion, a price-to-earnings ratio of -32.38 and a beta of 1.56.

Roblox (NYSE:RBLX) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. The firm had revenue of $919.00 million during the quarter, compared to analysts’ expectations of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 986.36%. Roblox’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.45) EPS. On average, research analysts predict that Roblox will post -1.58 EPS for the current year.

Insiders Place Their Bets

In other news, insider Manuel Bronstein sold 37,846 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $52.03, for a total value of $1,969,127.38. Following the sale, the insider now directly owns 674,259 shares in the company, valued at $35,081,695.77. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amy Marie Rawlings sold 4,933 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.35, for a total value of $199,046.55. Following the completion of the transaction, the chief accounting officer now directly owns 99,617 shares in the company, valued at approximately $4,019,545.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Manuel Bronstein sold 37,846 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $52.03, for a total value of $1,969,127.38. Following the completion of the sale, the insider now directly owns 674,259 shares in the company, valued at approximately $35,081,695.77. 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 90 days, insiders sold 1,029,373 shares of company stock valued at $46,476,179. Corporate insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Hedge funds have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale raised its holdings in Roblox by 2.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 60,520 shares of the company’s stock valued at $2,318,000 after buying an additional 1,419 shares during the period. Dragoneer Investment Group LLC raised its stake in shares of Roblox by 26.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after acquiring an additional 2,488,044 shares during the period. Itau Unibanco Holding S.A. lifted its holdings in shares of 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 in the last quarter. Sei Investments Co. boosted 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 purchasing an additional 44,557 shares during the period. Finally, Acadian Asset Management LLC raised its position in Roblox by 319.6% in the first quarter. Acadian Asset Management LLC now owns 28,271 shares of the company’s stock valued at $1,075,000 after purchasing an additional 21,533 shares during the period. 91.08% of the stock is 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.