Roblox (NYSE:RBLX) Upgraded by JPMorgan Chase & Co. to Overweight

JPMorgan Chase & Co. upgraded shares of Roblox (NYSE:RBLX) from a neutral rating to an overweight rating in a report published on Tuesday, Marketbeat.com reports. JPMorgan Chase & Co. currently has $48.00 price target on the stock, up from their previous price target of $41.00.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets boosted their target price on shares of Roblox from $55.00 to $57.00 and gave the stock an outperform rating in a research note on Thursday, February 8th. Needham & Company LLC upped their target price on Roblox from $51.00 to $55.00 and gave the stock a buy rating in a report on Thursday, February 8th. Barclays raised Roblox from an underweight rating to an equal weight rating and lifted their price target for the company from $26.00 to $46.00 in a research note on Thursday, February 8th. Wedbush upped their price objective on Roblox from $53.00 to $56.00 and gave the company an outperform rating in a research note on Thursday, February 8th. Finally, Roth Mkm lifted their target price on shares of Roblox from $50.00 to $55.00 and gave the stock a buy rating in a research report on Thursday, February 8th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $47.60.

Roblox Trading Up 3.8 %

Shares of Roblox stock opened at $36.30 on Tuesday. The firm’s 50-day moving average price is $39.03 and its two-hundred day moving average price is $39.01. The company has a market capitalization of $21.46 billion, a price-to-earnings ratio of -19.41 and a beta of 1.64. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 14.64. Roblox has a 12-month low of $24.88 and a 12-month high of $47.20.

Roblox (NYSE:RBLX) last issued its earnings results on Wednesday, February 7th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.05. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the firm earned ($0.48) earnings per share. The business’s quarterly revenue was up 25.3% on a year-over-year basis. On average, analysts forecast that Roblox will post -2.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Amy Marie Rawlings sold 3,777 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total transaction of $153,497.28. Following the sale, the chief accounting officer now owns 96,125 shares in the company, valued at approximately $3,906,520. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Mark Reinstra sold 12,531 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $40.75, for a total transaction of $510,638.25. Following the completion of the sale, the insider now owns 249,779 shares of the company’s stock, valued at approximately $10,178,494.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amy Marie Rawlings sold 3,777 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $40.64, for a total transaction of $153,497.28. Following the transaction, the chief accounting officer now owns 96,125 shares in the company, valued at approximately $3,906,520. The disclosure for this sale can be found here. In the last ninety days, insiders sold 699,374 shares of company stock worth $29,183,298. Company insiders own 22.15% of the company’s stock.

Institutional Investors Weigh In On Roblox

Several hedge funds and other institutional investors have recently bought and sold shares of RBLX. Allspring Global Investments Holdings LLC acquired a new stake in shares of Roblox in the 4th quarter valued at about $25,000. Blue Trust Inc. grew its stake in Roblox by 566.5% in the fourth quarter. Blue Trust Inc. now owns 1,073 shares of the company’s stock valued at $49,000 after acquiring an additional 912 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of Roblox during the first quarter valued at approximately $52,000. Allworth Financial LP raised its position in shares of Roblox by 90.2% during the fourth quarter. Allworth Financial LP now owns 1,238 shares of the company’s stock worth $57,000 after purchasing an additional 587 shares during the period. Finally, Rakuten Securities Inc. bought a new position in shares of Roblox in the 4th quarter worth $58,000. 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.