Roblox (NYSE:RBLX) Upgraded at JPMorgan Chase & Co.

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

Several other brokerages have also issued reports on RBLX. Stifel Nicolaus reiterated a buy rating and set a $53.00 price target on shares of Roblox in a report on Monday, April 22nd. Benchmark restated a buy rating and issued a $46.00 target price on shares of Roblox in a report on Tuesday, January 23rd. BMO Capital Markets boosted their target price on Roblox from $55.00 to $57.00 and gave the stock an outperform rating in a report on Thursday, February 8th. Needham & Company LLC boosted 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. Finally, The Goldman Sachs Group upgraded Roblox from a sell rating to a neutral rating and boosted their target price for the stock from $35.00 to $48.00 in a report on Thursday, February 8th. Four equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $47.60.

Roblox Trading Up 1.3 %

Shares of RBLX opened at $35.98 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 14.64. Roblox has a 1-year low of $24.88 and a 1-year high of $47.20. The business’s 50-day moving average price is $38.53 and its 200 day moving average price is $39.00. The stock has a market capitalization of $21.27 billion, a P/E ratio of -19.24 and a beta of 1.63.

Roblox (NYSE:RBLX) last released its earnings results on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, beating 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 company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business posted ($0.48) EPS. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. Analysts expect that Roblox will post -2.1 earnings per share for the current year.

Insider Activity

In other Roblox news, CEO David Baszucki sold 200,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $44.15, for a total value of $8,830,000.00. Following the sale, the chief executive officer now directly owns 1 shares in the company, valued at $44.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Roblox news, CEO David Baszucki sold 200,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $44.15, for a total value of $8,830,000.00. Following the sale, the chief executive officer now directly owns 1 shares in the company, valued at $44.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Guthrie sold 10,972 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total value of $445,902.08. Following the completion of the transaction, the chief financial officer now directly owns 233,629 shares in the company, valued at approximately $9,494,682.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 712,374 shares of company stock worth $29,639,338. Company insiders own 22.15% of the company’s stock.

Hedge Funds Weigh In On Roblox

Several large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in Roblox in the fourth quarter valued at about $25,000. Blue Trust Inc. lifted 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 buying an additional 912 shares during the period. Future Financial Wealth Managment LLC acquired a new position in Roblox in the first quarter valued at about $52,000. Allworth Financial LP lifted its stake in Roblox by 90.2% in the fourth quarter. Allworth Financial LP now owns 1,238 shares of the company’s stock valued at $57,000 after buying an additional 587 shares during the period. Finally, Rakuten Securities Inc. acquired a new position in Roblox in the fourth quarter valued at about $58,000. Institutional investors and hedge funds own 91.08% of the company’s stock.

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.