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

Roblox (NYSE:RBLX) had its price objective upped by JPMorgan Chase & Co. from $62.00 to $72.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently issued reports on RBLX. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Roblox from $45.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Raymond James restated a “strong-buy” rating and issued a $60.00 price objective on shares of Roblox in a report on Friday, November 22nd. HSBC initiated coverage on Roblox in a research note on Thursday, December 12th. They set a “buy” rating and a $63.00 target price on the stock. Morgan Stanley upgraded Roblox from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $38.00 to $65.00 in a research note on Monday, November 4th. Finally, Wedbush reaffirmed an “outperform” rating and set a $49.00 price objective on shares of Roblox in a research report on Friday, October 25th. Seven investment 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 stock. Based on data from MarketBeat, Roblox presently has an average rating of “Moderate Buy” and an average target price of $56.14.

Roblox Price Performance

RBLX stock opened at $61.75 on Friday. The company has a debt-to-equity ratio of 5.64, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $37.52 billion, a price-to-earnings ratio of -37.65 and a beta of 1.43. The firm has a 50 day moving average price of $55.94 and a 200-day moving average price of $46.62. Roblox has a 52-week low of $29.55 and a 52-week high of $63.58.

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

Insiders Place Their Bets

In other news, CAO Amy Marie Rawlings sold 2,186 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $52.90, for a total value of $115,639.40. Following the transaction, the chief accounting officer now directly owns 91,062 shares in the company, valued at $4,817,179.80. The trade was a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Manuel Bronstein sold 44,888 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $60.01, for a total value of $2,693,728.88. Following the completion of the transaction, the insider now directly owns 573,266 shares of the company’s stock, valued at approximately $34,401,692.66. This trade represents a 7.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,254,601 shares of company stock worth $65,622,735 over the last quarter. 22.15% of the stock is currently owned by corporate insiders.

Institutional Trading of Roblox

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its stake in Roblox by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,249 shares of the company’s stock worth $2,040,000 after acquiring an additional 398 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in Roblox during the fourth quarter valued at $927,000. GAMMA Investing LLC lifted its position in Roblox by 29.2% during the fourth quarter. GAMMA Investing LLC now owns 1,200 shares of the company’s stock valued at $69,000 after purchasing an additional 271 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Roblox by 83.9% in the 4th quarter. Versant Capital Management Inc now owns 524 shares of the company’s stock worth $30,000 after buying an additional 239 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Roblox by 308.2% in the 3rd quarter. Principal Financial Group Inc. now owns 181,808 shares of the company’s stock worth $8,047,000 after buying an additional 137,267 shares during the last quarter. 94.46% of the stock is currently owned by 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.