Roblox (NYSE:RBLX) Upgraded to “Overweight” by JPMorgan Chase & Co.

Roblox (NYSE:RBLX) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage presently has a $48.00 price objective on the stock, up from their previous price objective of $41.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 37.30% from the company’s current price.

Several other analysts have also weighed in on RBLX. Roth Mkm upped their price objective on Roblox from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Wedbush upped their price objective on Roblox from $53.00 to $56.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. BMO Capital Markets upped their price objective on Roblox from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Barclays raised Roblox from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $26.00 to $46.00 in a report on Thursday, February 8th. Finally, The Goldman Sachs Group raised Roblox from a “sell” rating to a “neutral” rating and upped their target price for the company from $35.00 to $48.00 in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Roblox currently has an average rating of “Moderate Buy” and an average target price of $47.40.

Roblox Trading Down 1.1 %

NYSE:RBLX opened at $34.96 on Tuesday. Roblox has a 1 year low of $24.88 and a 1 year high of $47.20. The stock has a market cap of $20.66 billion, a price-to-earnings ratio of -18.70 and a beta of 1.64. The business has a fifty day moving average of $39.15 and a 200-day moving average of $38.97. The company has a debt-to-equity ratio of 14.64, a quick ratio of 1.07 and a current ratio of 1.07.

Roblox (NYSE:RBLX) last announced its quarterly earnings data on Wednesday, February 7th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.05. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.05 billion. Roblox had a negative return on equity of 770.71% and a negative net margin of 41.15%. The company’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.48) earnings per share. Equities analysts predict that Roblox will post -2.1 earnings per share for the current year.

Insider Activity

In other news, CAO Amy Marie Rawlings sold 3,777 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total transaction of $153,497.28. Following the transaction, the chief accounting officer now owns 96,125 shares of the company’s stock, valued at approximately $3,906,520. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Roblox news, insider Mark Reinstra sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $36.69, for a total value of $146,760.00. Following the completion of the sale, the insider now owns 359,453 shares in the company, valued at approximately $13,188,330.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amy Marie Rawlings sold 3,777 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $40.64, for a total value of $153,497.28. Following the completion of the sale, the chief accounting officer now owns 96,125 shares of the company’s stock, valued at approximately $3,906,520. The disclosure for this sale can be found here. In the last quarter, insiders have sold 707,707 shares of company stock valued at $29,526,367. Insiders own 22.15% of the company’s stock.

Institutional Trading of Roblox

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Roblox by 29.0% during the 3rd quarter. Vanguard Group Inc. now owns 44,593,008 shares of the company’s stock worth $1,291,414,000 after buying an additional 10,025,779 shares during the period. Ieq Capital LLC lifted its position in shares of Roblox by 158.0% during the 3rd quarter. Ieq Capital LLC now owns 9,151,748 shares of the company’s stock worth $265,035,000 after buying an additional 5,604,995 shares during the period. Franklin Resources Inc. lifted its position in shares of Roblox by 195.1% during the 4th quarter. Franklin Resources Inc. now owns 7,809,329 shares of the company’s stock worth $357,043,000 after buying an additional 5,162,833 shares during the period. Morgan Stanley lifted its position in shares of Roblox by 13.7% during the 3rd quarter. Morgan Stanley now owns 41,014,115 shares of the company’s stock worth $1,187,769,000 after buying an additional 4,927,848 shares during the period. Finally, Norges Bank bought a new position in shares of Roblox during the 4th quarter worth approximately $216,194,000. 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.