Deutsche Bank Aktiengesellschaft Increases Roblox (NYSE:RBLX) Price Target to $45.00

Roblox (NYSE:RBLX) had its price target lifted by investment analysts at Deutsche Bank Aktiengesellschaft from $40.00 to $45.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 15.56% from the company’s current price.

Several other equities research analysts have also commented on RBLX. Piper Sandler reiterated an “overweight” rating and issued a $40.00 price objective (down previously from $56.00) on shares of Roblox in a research note on Friday, May 10th. Macquarie initiated coverage on shares of Roblox in a research note on Friday, June 14th. They issued an “outperform” rating and a $46.00 price target for the company. Wedbush restated an “outperform” rating and issued a $46.00 target price on shares of Roblox in a report on Monday. Morgan Stanley cut their price target on Roblox from $42.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. Finally, Canaccord Genuity Group cut their target price on shares of Roblox from $56.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $44.32.

Roblox Price Performance

Shares of RBLX traded up $0.09 during trading hours on Friday, hitting $38.94. The stock had a trading volume of 5,195,332 shares, compared to its average volume of 7,390,528. Roblox has a 52 week low of $24.88 and a 52 week high of $47.20. The stock has a market capitalization of $23.03 billion, a price-to-earnings ratio of -20.96 and a beta of 1.60. The company has a debt-to-equity ratio of 16.04, a current ratio of 1.07 and a quick ratio of 1.07. The company’s fifty day moving average is $37.35 and its two-hundred day moving average is $38.08.

Roblox (NYSE:RBLX) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.05. The business had revenue of $893.50 million for the quarter, compared to analysts’ expectations of $897.88 million. Roblox had a negative net margin of 39.19% and a negative return on equity of 1,110.40%. The firm’s revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.46) EPS. On average, analysts anticipate that Roblox will post -1.66 EPS for the current year.

Insider Transactions at Roblox

In other news, Director Gregory Baszucki sold 13,000 shares of Roblox stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $40.45, for a total transaction of $525,850.00. Following the transaction, the director now owns 9,708,603 shares in the company, valued at $392,712,991.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Gregory Baszucki sold 13,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $40.45, for a total transaction of $525,850.00. Following the sale, the director now directly owns 9,708,603 shares in the company, valued at approximately $392,712,991.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Guthrie sold 900 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $35.00, for a total transaction of $31,500.00. Following the sale, the chief financial officer now owns 374,633 shares of the company’s stock, valued at approximately $13,112,155. The disclosure for this sale can be found here. In the last 90 days, insiders sold 476,889 shares of company stock valued at $17,575,955. Insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates raised its stake in Roblox by 65.0% in the fourth quarter. Raymond James & Associates now owns 126,485 shares of the company’s stock valued at $5,783,000 after purchasing an additional 49,827 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Roblox by 566.5% in the 4th quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock valued at $49,000 after purchasing an additional 912 shares during the period. Ballentine Partners LLC lifted its holdings in shares of Roblox by 4.6% during the fourth quarter. Ballentine Partners LLC now owns 27,457 shares of the company’s stock valued at $1,255,000 after purchasing an additional 1,203 shares during the last quarter. Arizona State Retirement System boosted its stake in Roblox by 1.8% in the 4th quarter. Arizona State Retirement System now owns 116,811 shares of the company’s stock worth $5,341,000 after purchasing an additional 2,105 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in Roblox by 0.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 164,193 shares of the company’s stock worth $7,623,000 after buying an additional 995 shares in the last quarter. 91.08% of the stock is owned by institutional investors.

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.