JPMorgan Chase & Co. Increases Roblox (NYSE:RBLX) Price Target to $51.00

Roblox (NYSE:RBLX) had its price target upped by equities researchers at JPMorgan Chase & Co. from $50.00 to $51.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 24.00% from the stock’s current price.

A number of other equities research analysts also recently issued reports on RBLX. Wedbush reissued an “outperform” rating and set a $49.00 price target on shares of Roblox in a research report on Wednesday, October 9th. Macquarie boosted their price objective on shares of Roblox from $46.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Citigroup raised their target price on Roblox from $46.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft boosted their price target on Roblox from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, BTIG Research raised their price objective on Roblox from $47.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Roblox presently has a consensus rating of “Moderate Buy” and an average target price of $46.29.

Roblox Stock Performance

NYSE:RBLX traded up $0.82 during mid-day trading on Tuesday, hitting $41.13. 3,361,053 shares of the stock were exchanged, compared to its average volume of 7,261,221. The firm’s 50-day simple moving average is $43.14 and its 200 day simple moving average is $38.99. The stock has a market capitalization of $24.32 billion, a price-to-earnings ratio of -21.93 and a beta of 1.60. Roblox has a fifty-two week low of $29.55 and a fifty-two week high of $48.43. The company has a debt-to-equity ratio of 9.04, a quick ratio of 1.03 and a current ratio of 1.03.

Roblox (NYSE:RBLX) last posted its earnings results on Thursday, August 1st. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.07. Roblox had a negative return on equity of 1,187.59% and a negative net margin of 34.12%. The company had revenue of $893.50 million during the quarter, compared to the consensus estimate of $897.88 million. During the same quarter last year, the firm earned ($0.46) earnings per share. The company’s revenue was up 31.2% on a year-over-year basis. As a group, equities analysts anticipate that Roblox will post -1.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Roblox news, CFO Michael Guthrie sold 30,000 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $41.50, for a total transaction of $1,245,000.00. Following the completion of the sale, the chief financial officer now directly owns 352,844 shares in the company, valued at approximately $14,643,026. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Michael Guthrie sold 30,000 shares of Roblox stock in a transaction on Monday, October 7th. The shares were sold at an average price of $41.50, for a total value of $1,245,000.00. Following the completion of the sale, the chief financial officer now owns 352,844 shares in the company, valued at $14,643,026. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory Baszucki sold 13,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $40.45, for a total transaction of $525,850.00. Following the transaction, the director now owns 9,708,603 shares in the company, valued at $392,712,991.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 625,673 shares of company stock worth $27,331,806. 22.15% of the stock is currently owned by insiders.

Institutional Trading of Roblox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Roblox by 10.4% during the first quarter. Vanguard Group Inc. now owns 51,082,302 shares of the company’s stock worth $1,950,322,000 after buying an additional 4,818,022 shares during the last quarter. Ieq Capital LLC raised its holdings in shares of Roblox by 27.6% in the 1st quarter. Ieq Capital LLC now owns 12,409,924 shares of the company’s stock worth $473,811,000 after acquiring an additional 2,684,713 shares during the last quarter. Dragoneer Investment Group LLC lifted its position in Roblox by 26.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 11,745,203 shares of the company’s stock valued at $437,039,000 after acquiring an additional 2,488,044 shares in the last quarter. Greenvale Capital LLP acquired a new position in Roblox during the 2nd quarter valued at about $89,304,000. Finally, Marshall Wace LLP bought a new stake in Roblox during the 2nd quarter worth approximately $87,543,000. 91.08% of the stock is 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.