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

Roblox (NYSE:RBLX) had its price objective lifted by equities research analysts at JPMorgan Chase & Co. from $51.00 to $62.00 in a note issued to 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 20.53% from the stock’s previous close.

RBLX has been the subject of several other reports. Wells Fargo & Company lifted their target price on shares of Roblox from $46.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Citigroup upped their target price on Roblox from $46.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. BTIG Research raised their price target on Roblox from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday. Wedbush reaffirmed an “outperform” rating and set a $49.00 price objective on shares of Roblox in a research note on Friday, October 25th. Finally, Wolfe Research assumed coverage on shares of Roblox in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.55.

Roblox Stock Performance

Roblox stock opened at $51.44 on Friday. 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 has a fifty-two week low of $29.55 and a fifty-two week high of $52.65. The stock has a fifty day moving average of $43.67 and a two-hundred day moving average of $39.35. The company has a market capitalization of $30.79 billion, a price-to-earnings ratio of -31.37 and a beta of 1.56.

Roblox (NYSE:RBLX) last released its earnings results on Thursday, October 31st. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.01. The company had revenue of $919.00 million for the quarter, compared to analyst estimates of $1.02 billion. Roblox had a negative net margin of 30.90% and a negative return on equity of 1,283.93%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.45) EPS. On average, analysts anticipate that Roblox will post -1.58 EPS for the current fiscal year.

Insider Transactions at Roblox

In related news, CFO Michael Guthrie sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $38.82, for a total transaction of $1,164,600.00. Following the sale, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $14,543,253.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Michael Guthrie sold 30,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $38.82, for a total value of $1,164,600.00. Following the completion of the transaction, the chief financial officer now directly owns 374,633 shares in the company, valued at approximately $14,543,253.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Arvind Chakravarthy sold 592 shares of Roblox stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $43.32, for a total transaction of $25,645.44. Following the sale, the insider now directly owns 276,892 shares in the company, valued at $11,994,961.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 979,341 shares of company stock valued at $43,897,012 over the last quarter. Company insiders own 22.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RBLX. V Square Quantitative Management LLC bought a new position in Roblox during the 3rd quarter valued at $27,000. PARK CIRCLE Co bought a new position in shares of Roblox during the second quarter worth about $30,000. GAMMA Investing LLC grew its stake in Roblox by 132.8% in the third quarter. GAMMA Investing LLC now owns 929 shares of the company’s stock worth $41,000 after purchasing an additional 530 shares in the last quarter. Gilliland Jeter Wealth Management LLC increased its holdings in Roblox by 102.4% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $37,000 after buying an additional 506 shares during the last quarter. Finally, Washington Trust Advisors Inc. acquired a new stake in Roblox during the first quarter valued at approximately $39,000. Hedge funds and other institutional investors 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.