JPMorgan Chase & Co. Has Lowered Expectations for Roblox (NYSE:RBLX) Stock Price

Roblox (NYSE:RBLX) had its price objective lowered by equities researchers at JPMorgan Chase & Co. from $53.00 to $46.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 6.95% from the stock’s previous close.

RBLX has been the topic of a number of other research reports. DA Davidson increased their price target on Roblox from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 14th. Citigroup decreased their price target on Roblox from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. TD Cowen lowered their price target on Roblox from $49.00 to $40.00 and set a “hold” rating for the company in a report on Friday, July 31st. Barclays cut their price objective on shares of Roblox from $60.00 to $47.00 and set an “equal weight” rating on the stock in a report on Monday, August 3rd. Finally, Morgan Stanley decreased their target price on shares of Roblox from $62.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $53.19.

Roblox Stock Performance

NYSE:RBLX opened at $43.01 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 7.82. Roblox has a fifty-two week low of $33.88 and a fifty-two week high of $119.85. The stock has a market cap of $28.87 billion, a PE ratio of -31.17 and a beta of 1.45. The firm’s fifty day simple moving average is $46.34 and its 200-day simple moving average is $52.69.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, October 29th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.11. Roblox had a negative return on equity of 303.93% and a negative net margin of 16.48%. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the business earned ($0.37) earnings per share. Roblox’s quarterly revenue was up 15.6% compared to the same quarter last year. Analysts expect that Roblox will post -1.41 earnings per share for the current fiscal year.

Insider Transactions at Roblox

In related news, CEO David Baszucki sold 52,568 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $37.96, for a total value of $1,995,481.28. Following the transaction, the chief executive officer owned 799,646 shares in the company, valued at approximately $30,354,562.16. This trade represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Naveen Chopra sold 17,509 shares of Roblox stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $37.96, for a total transaction of $664,641.64. Following the transaction, the chief financial officer directly owned 363,249 shares in the company, valued at approximately $13,788,932.04. This trade represents a 4.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 186,390 shares of company stock valued at $7,283,371 in the last three months. 10.05% of the stock is owned by company insiders.

Institutional Trading of Roblox

A number of institutional investors have recently added to or reduced their stakes in RBLX. Activest Wealth Management raised its holdings in shares of Roblox by 72.9% during the 3rd quarter. Activest Wealth Management now owns 588 shares of the company’s stock valued at $25,000 after buying an additional 248 shares during the period. Basecamp Wealth Advisors LLC boosted its position in Roblox by 98.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 507 shares of the company’s stock valued at $29,000 after buying an additional 252 shares during the last quarter. Mather Group LLC. boosted its holdings in Roblox by 2,458.6% in the third quarter. Mather Group LLC. now owns 742 shares of the company’s stock valued at $31,000 after purchasing an additional 713 shares during the last quarter. Root Financial Partners LLC raised its position in shares of Roblox by 100.7% in the 1st quarter. Root Financial Partners LLC now owns 564 shares of the company’s stock valued at $32,000 after purchasing an additional 283 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its stake in shares of Roblox by 234.7% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 753 shares of the company’s stock worth $32,000 after buying an additional 528 shares during the last quarter. 94.46% of the stock is owned by hedge funds and other institutional investors.

Roblox Company Profile

Roblox Corporation operates Roblox, an online platform where users can create, publish, and participate in interactive digital experiences. The platform supports a broad range of user-generated content, including games, social spaces, entertainment, educational activities, and virtual events.

Roblox provides development tools through Roblox Studio, enabling creators and developers to design experiences and build virtual items and environments. Users can customize avatars, communicate with others, and access content across computers, mobile devices, consoles, and other supported platforms.