JPMorgan Chase & Co. Increases Roblox (NYSE:RBLX) Price Target to $51.00

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

A number of other equities analysts have also weighed in on RBLX. Deutsche Bank Aktiengesellschaft upped their target price on shares of Roblox from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Wedbush reissued an “outperform” rating and issued a $49.00 target price on shares of Roblox in a research report on Wednesday, October 9th. Wells Fargo & Company upped their price target on Roblox from $46.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Benchmark lifted their price objective on shares of Roblox from $40.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Roth Mkm boosted their price objective on shares of Roblox from $35.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.29.

Roblox Trading Down 0.3 %

NYSE RBLX opened at $41.15 on Tuesday. Roblox has a one year low of $29.55 and a one year high of $48.43. The company has a debt-to-equity ratio of 9.04, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $24.33 billion, a P/E ratio of -22.12 and a beta of 1.60. The stock’s 50-day moving average is $43.19 and its 200-day moving average is $39.01.

Roblox (NYSE:RBLX) last announced its earnings results on Thursday, August 1st. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.07. The firm had revenue of $893.50 million for the quarter, compared to the consensus estimate of $897.88 million. Roblox had a negative net margin of 34.12% and a negative return on equity of 1,187.59%. The business’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period last year, the company posted ($0.46) EPS. Sell-side analysts anticipate that Roblox will post -1.58 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO David Baszucki sold 166,666 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $43.55, for a total transaction of $7,258,304.30. Following the transaction, the chief executive officer now directly owns 135,761 shares of the company’s stock, valued at approximately $5,912,391.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total value of $1,164,600.00. Following the transaction, the chief financial officer now directly owns 374,633 shares of the company’s stock, valued at $14,543,253.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Baszucki sold 166,666 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $43.55, for a total transaction of $7,258,304.30. Following the sale, the chief executive officer now owns 135,761 shares of the company’s stock, valued at $5,912,391.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 612,673 shares of company stock valued at $26,805,956 over the last three months. Insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

A number of large investors have recently made changes to their positions in RBLX. V Square Quantitative Management LLC bought a new position in Roblox during the third quarter worth about $27,000. PARK CIRCLE Co acquired a new position in shares of Roblox during the 2nd quarter worth approximately $30,000. GAMMA Investing LLC increased its holdings in shares of Roblox by 132.8% during the third quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after purchasing an additional 530 shares during the period. Gilliland Jeter Wealth Management LLC increased its holdings in shares of Roblox by 102.4% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock worth $37,000 after purchasing an additional 506 shares during the period. Finally, Washington Trust Advisors Inc. acquired a new stake in shares of Roblox in the first quarter valued at approximately $39,000. Institutional investors own 91.08% of the company’s stock.

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.