JPMorgan Chase & Co. Issues Positive Forecast for Roblox (NYSE:RBLX) Stock Price

Roblox (NYSE:RBLX) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $62.00 to $72.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 18.03% from the stock’s previous close.

RBLX has been the subject of a number of other reports. HSBC assumed coverage on shares of Roblox in a research note on Thursday, December 12th. They issued a “buy” rating and a $63.00 price objective for the company. BTIG Research upped their target price on shares of Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Raymond James restated a “strong-buy” rating and set a $60.00 price target on shares of Roblox in a research report on Friday, November 22nd. Piper Sandler increased their price objective on Roblox from $54.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Citigroup raised their price target on Roblox from $53.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Roblox presently has a consensus rating of “Moderate Buy” and an average price target of $56.14.

Roblox Stock Performance

Shares of Roblox stock traded down $1.05 during trading hours on Friday, hitting $61.00. 2,212,445 shares of the company’s stock traded hands, compared to its average volume of 5,492,537. The company has a fifty day simple moving average of $55.74 and a 200-day simple moving average of $46.44. The company has a debt-to-equity ratio of 5.64, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $37.06 billion, a price-to-earnings ratio of -37.20 and a beta of 1.43. Roblox has a 12-month low of $29.55 and a 12-month high of $63.58.

Roblox (NYSE:RBLX) last issued its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. The firm had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative return on equity of 986.36% and a negative net margin of 30.90%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.45) earnings per share. Equities research analysts anticipate that Roblox will post -1.56 EPS for the current fiscal year.

Insider Activity at Roblox

In other Roblox news, CEO David Baszucki sold 166,668 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $42.15, for a total transaction of $7,025,056.20. Following the completion of the sale, the chief executive officer now owns 135,755 shares of the company’s stock, valued at $5,722,073.25. This represents a 55.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amy Marie Rawlings sold 2,186 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $52.90, for a total value of $115,639.40. Following the transaction, the chief accounting officer now owns 91,062 shares in the company, valued at approximately $4,817,179.80. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,254,601 shares of company stock worth $65,622,735 in the last ninety days. 22.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roblox

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in Roblox by 83.9% during the fourth quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock valued at $30,000 after buying an additional 239 shares during the last quarter. Impact Partnership Wealth LLC raised its position in shares of Roblox by 3.8% in the 3rd quarter. Impact Partnership Wealth LLC now owns 6,730 shares of the company’s stock worth $298,000 after purchasing an additional 245 shares during the last quarter. GAMMA Investing LLC boosted its stake in Roblox by 29.2% in the 4th quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock worth $69,000 after purchasing an additional 271 shares in the last quarter. Metis Global Partners LLC grew its position in Roblox by 5.0% during the 3rd quarter. Metis Global Partners LLC now owns 6,003 shares of the company’s stock valued at $266,000 after purchasing an additional 288 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in Roblox by 5.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,691 shares of the company’s stock valued at $296,000 after purchasing an additional 321 shares in the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

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.